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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  ABB Ltd    ABBN   CH0012221716

ABB LTD

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Roche names new head of $13 billion diagnostics unit

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06/11/2019 | 02:17am EDT
FILE PHOTO: Logo of Swiss drugmaker Roche is seen at its headquarters in Basel

ZURICH (Reuters) - Swiss drugmaker Roche on Tuesday named a new head of its $13-billion-per-year (£10.3 billion) diagnostics business and also said board member Peter Voser is stepping down to focus on his expanded duties as interim head of Swiss engineering group ABB.

Roche's new diagnostics boss, Thomas Schinecker, fills a post that had been led for months on an interim basis by Michael Heuer, who is retiring. Roche's diagnostics unit includes diabetes care, sophisticated laboratory equipment and tests aimed at personalizing cancer treatment.

With Schinecker, 44, Roche has looked inside the company to finally fill a key leadership position vacated last August by Roland Diggelmann. Schinecker began his career in 2003 as a trainee for Roche Diagnostics before moving up the ranks in jobs in the United States, Singapore, Austria, Sweden and Switzerland.

"Thomas Schinecker has broad and international experience in our business," Roche CEO Severin Schwan said in a statement.

Roche's head of group communications, Stephan Feldhaus, is also leaving in September, to be replaced by Barbara Schaedler, who is now head of public affairs at E.ON SE.

Voser had been on Roche's board since 2011 but wants to dedicate more time as interim CEO of ABB, a post he has filled since Ulrich Spiesshofer left the robotics and automation company in April.

(Reporting by John Miller, editing by John Revill)

Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD 0.27% 18.625 Delayed Quote.-0.67%
E.ON SE -0.03% 9.444 Delayed Quote.9.54%
ROCHE HOLDING LTD. 0.28% 265.2 Delayed Quote.8.73%
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Financials (USD)
Sales 2019 28 744 M
EBIT 2019 2 185 M
Net income 2019 1 498 M
Debt 2019 5 666 M
Yield 2019 4,34%
P/E ratio 2019 25,8x
P/E ratio 2020 17,5x
EV / Sales2019 1,60x
EV / Sales2020 1,44x
Capitalization 40 288 M
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 22,29  $
Last Close Price 18,90  $
Spread / Highest target 59,0%
Spread / Average Target 17,9%
Spread / Lowest Target -13,6%
EPS Revisions
Managers
NameTitle
Ulrich Spiesshofer President & Chief Executive Officer
Peter R. Voser Chairman
Timo J. Ihamuotila Chief Financial Officer
Jacob Wallenberg Vice Chairman
Matti Juhani Alahuhta Independent Non-Executive Director
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