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    ABBN   CH0012221716

ABB LTD

(ABBN)
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Delayed Quote. Delayed Swiss Exchange - 08/04 11:31:48 am
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ABB : introduces new global gender-neutral parental leave program

06/18/2021 | 04:05am EDT

ABB will introduce the new program with a view to support families by giving every parent an opportunity to spend more time with their newborns, and balance career and family responsibilities. Every ABB employee worldwide under the program who is having a child, whose partner is having a child, or who adopts a child or becomes a parent through surrogacy, is entitled to paid parental leave.

The global parental leave program forms part of ABB's 'Global Diversity & Inclusion Strategy 2030', launched in autumn 2020. The D&I strategy clearly defines ABB's efforts to ensure inclusion and equal treatment of all, regardless of gender, ability, age, ethnic origin, sexual orientation etc.

'Building and fostering a culture of diversity and inclusion is a priority for ABB and represents a foundation for innovation and better decision making', said Carolina Granat, Chief Human Resources Officer. 'At ABB we support gender equality and diversity and understand that every family is unique. The global parental leave will apply across ABB to support our employees as new parents. This helps provide a healthy start in the life of their children and also supports their own well-being as working parents.'

Each employee, who is given the primary and ongoing responsibility for the care of the newborn or newly adopted minor child under 3 years of age, shall be granted 12 weeks of paid leave following birth or adoption. Each secondary caregiver shall be granted 4 weeks of paid parental leave. The leave may be taken at any time within the first year of the baby's birth or adoption. At the end of the parental leave, an employee is guaranteed the right to return to the same job as before, or, if that is not reasonably practicable, a similar job which has the same or better status, terms and conditions as the former job.

The global parental leave program will come into effect by January 1, 2022, with implementation on a country-by-country basis under the leadership of local management, subject to local laws and regulations, and any required prior engagement of employee representatives. The exact timeline of the roll-out in each country will depend on the local circumstances. In case local legislative standards are more generous than the benefits set by ABB, the local legislative standards apply.

As part of our 2030 sustainability strategy, we are committed to driving social progress, along with our suppliers and in our communities. Within ABB, we are creating safe, fair, equitable and inclusive working environments in which our people can succeed and develop. We have a comprehensive diversity and inclusion framework, and by 2030 we will double the number of women in senior management roles to 25 percent.

ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB's success is driven by about 105,000 talented employees in over 100 countries. www.abb.com

Disclaimer

ABB Ltd. published this content on 18 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2021 08:04:04 UTC.


ę Publicnow 2021
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Sales 2021 29 402 M - -
Net income 2021 2 572 M - -
Net Debt 2021 4 329 M - -
P/E ratio 2021 28,1x
Yield 2021 2,38%
Capitalization 74 785 M 74 500 M -
EV / Sales 2021 2,69x
EV / Sales 2022 2,56x
Nbr of Employees 106 370
Free-Float 80,0%
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Mean consensus HOLD
Number of Analysts 23
Last Close Price 36,86 $
Average target price 36,15 $
Spread / Average Target -1,93%
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Managers and Directors
Bj÷rn Klas Otto Rosengren Chief Executive Officer
Timo J. Ihamuotila Chief Financial Officer
Peter R. Voser Chairman
Jacob Wallenberg Vice Chairman
David Edward Constable Independent Non-Executive Director
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