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ABB Schweiz AG is a manufacturer of automation and electronic products. The company also distributes electronic equipment for natural gas, housing, airport, robotic, and automotive industries. The company provides service, training, consulting, and design of new distribution and transmission systems. The company offers its products and services across the globe.
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Peter Voser said Bjorn Rosengren would follow the ABB's strategy of decreasing its corporate center. In addition, will give more power to its business units – electrification, industrial automation, discrete automation, and motion and robotics. ABB shares have lost about 14% over last five years. Also, the company is selling power grids business segment to Hitachi as well as announced a deal to quit its solar energy inverters business. Peter Voser launched a business segment review which generate revenue of around US$ 3 billion, or around 11% of ABB's total sales, which could be sold or improved. According to Bank of America, with appointment of Rosengren, the company will have CEO with a strong reputation and proven track record and in capital markets for providing operational improvement. Moreover, Peter Voser said in our view, Rosengren success at Sandvik in applying a decentralized business model would make Rosengren a good match for their company."
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