ZURICH (Reuters) - Activist investor shareholder Cevian on Monday said it fully supported the appointment of Bjorn Rosengren as the new Chief Executive at ABB.
Cevian, ABB’s second largest shareholder with a 5.3% stake, had been critical of ABB’s complicated structure and had campaigned for a separation of its power grids business.
“We fully support the appointment of Bjorn Rosengren as new CEO of ABB,” said Cevian co-founder Lars Forberg. “He has the right experience and leadership style to successfully drive ABB’s transformation and strategy.”
Reporting by John Revill; Editing by Thomas Seythal