ABB Hires Spiesshofer as CEO as Hogan Makes Gradual Exit

ABB Ltd., the world’s largest supplier of power grids, said Ulrich Spiesshofer will become chief executive officer, an internal promotion of a manager who integrated the Swiss company’s largest acquisition.

Spiesshofer will replace Joe Hogan, who last month said he’ll step down for private reasons after five years at the helm of the Swiss company. Hogan will continue as adviser and Spiesshofer will take over on Sept. 15., Zurich-based ABB said today in a statement.