ABB Ltd: Tarak Mehta to leave ABB

English

Published: 2024-03-27 06:48:45 CET ABB Ltd Changes board/management/auditors ABB Ltd: Tarak Mehta to leave ABB ZURICH, SWITZERLAND, MARCH 27, 2024 Tarak Mehta to leave ABB ABB announced today that Tarak Mehta, President Motion Business Area and Member of the Executive Committee, has decided to leave ABB since he has accepted the role as CEO of another company. Tarak will leave ABB at the end of July this year. Tarak joined ABB in 1998 and has since then held a number of positions of increasing responsibility in the United States, Sweden and Switzerland. He joined ABB's Executive Committee in 2010 and was appointed to his current position in April 2022. "Throughout his 26 year career at ABB, Tarak has demonstrated exceptional leadership. As Executive Committee member and Business Area President, Tarak has contributed to achieving a record high operational EBITA margin in the past year in our Motion business and the Business Area is well-positioned to contribute to ABB's higher financial targets going forward. Before that, he played a key role in further strengthening our leading position in the United States, ABB's largest market, for our Electrification business," said CEO Björn Rosengren. "We thank Tarak for his outstanding contribution to the success of our company and wish him all the best for both his professional and personal future endeavors." "I would like to express my sincere gratitude and appreciation to everyone I have worked with over the years. Thank you for your support, efforts, guidance and the results we have achieved together. It has been a wonderful journey of 26 years filled with challenges and opportunities as well as personal and professional growth. I wish the ABB team a continued bright future," said Tarak Mehta. A search process for the position of President, Motion Business Area will be launched shortly. ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company's solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on over 140 years of excellence, ABB's more than 105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com - For more information please contact: Media Relations Phone: [phone] Email: [e-mail] Investor Relations Phone: [phone] Email: [e-mail] ABB Ltd Affolternstrasse 44 8050 Zurich Switzerland Attachments: 20240327_Tarak_Mehta_to_leave_ABB_EN.pdf This news release was distributed by Company News System, www.nasdaqomxnordic.com/news/marketnotices To subscribe on regulatory news from this company, go to the subscription page