Jurgen Dormann Will Retire from ABB Board in May 2007
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Zurich, Switzerland, December 11, 2006 - ABB announced today that Jurgen Dormann has decided not to seek re-election to the ABB Board for a further term. As a consequence, he will retire from the ABB board, after completing his current term as Chairman of the ABB Board, at the company's next Annual General Meeting (AGM) on May 3, 2007.
ABB's Board is starting the process to nominate a successor for Jurgen Dormann and will inform its shareholders before the next AGM. The ABB Board members are nominated for a one-year term and are elected by the shareholders at the company's AGM.
Jurgen Dormann joined the ABB Board in May 1998 and was named its Chairman in November 2001. From September 2002 to December 2004, he was also the CEO of the company.
Fred Kindle, ABB President and CEO said: " Jurgen Dormann made a historic contribution to the successful long-term development of ABB. His courage to take responsibility in very difficult times for the company and his exceptional leadership as ABB Chairman and CEO were essential for ABB's successful turnaround."
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 107,000 people.
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