DJ ABB Ltd: Tarak Mehta to leave ABB
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
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For more information please contact:
Media Relations Investor Relations ABB Ltd
Phone: +41 43 317 71 11 Phone: +41 43 317 71 11 Affolternstrasse 44
Email: media.relations@ch.abb.com Email: investor.relations@ch.abb.com 8050 Zurich
Switzerland
----------------------------------------------------------------------------------------------------------------------- File: ABB: Tarak Mehta to leave ABB
Language: English
Company: ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
Phone: +41 43 317 7111
Internet: www.abb.com
ISIN: CH0012221716
EQS News ID: 1868101
ABB Ltd / 72 Changes board/management/auditors Dissemination of a Swedish Regulatory News, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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(END) Dow Jones Newswires
March 27, 2024 01:49 ET (05:49 GMT)
