By Adria Calatayud

ABB said Morten Wierod would succeed Bjoern Rosengren as its new chief executive officer later this year.

The Switzerland-based industrial group said Friday that Rosengren would step down from his position on July 31 and retire at the end of the year. He became CEO in early 2020.

The appointment of Wierod, a company veteran who most recently led the group's electrification business, is due to be effective on Aug. 1, ABB said.

A search process for Wierod's current position as president of ABB's electrification business area will be launched shortly, the company said.

Write to Adria Calatayud at

(END) Dow Jones Newswires

02-23-24 0141ET