ABB’s board of directors and Ulrich Spiesshofer have mutually agreed for him to step down from his role as CEO, which he has held since 2013, the company said on April 17.
The chairman of the board, Peter Voser, will become interim CEO in addition to his current role, with immediate effect. An official search to find a new CEO has been initiated.
Peter Voser, a Swiss citizen, has been chairman of ABB since April 2015. Prior to this, he was CEO of Royal Dutch Shell from 2009 to 2013, and CFO between 2004 and 2009. Between 2002 and October 2004, he was CFO of ABB and a key leader behind the successful turnaround of the company.
The company said Voser brings a wealth of experience in board positions in leading companies such as a Roche, IBM, Catalyst, Temasek Holdings and PSA International in Singapore.
Recommended Reading
Chevron Hunts Upside for Oil Recovery, D&C Savings with Permian Pilots
2024-02-06 - New techniques and technologies being piloted by Chevron in the Permian Basin are improving drilling and completed cycle times. Executives at the California-based major hope to eventually improve overall resource recovery from its shale portfolio.
Prairie Operating Acquires More D-J Basin Assets for $94.5MM
2024-01-15 - Houston-based Prairie Operating Co. is scaling its D-J Basin footprint with a $94.5 million acquisition of Nickel Road Operating LLC.
US Drillers Add Oil, Gas Rigs for First Time in Three Weeks
2024-01-19 - U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks
TPH: Lower 48 to Shed Rigs Through 3Q Before Gas Plays Rebound
2024-03-13 - TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.
US Gas Rig Count Falls to Lowest Since January 2022
2024-03-22 - The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22.