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Structural Manage

ABB rearranges executive structure

ABB has announced that the Board of Directors will propose Johan Forssell and Mats Rahmström as new members for election at the company’s Annual General Meeting (AGM) on March 21, 2024. They will reportedly replace Jacob Wallenberg and Gunnar Brock, who have decided not to stand for re-election, according to a press release sent to Electrical Apparatus. Jacob Wallenberg has been Vice-Chairman of the Board of Directors since 2015 and a non-executive member since 1999. He is a member of the Governance and Nomination Committee. Gunnar Brock joined ABB’s board in 2018 and is a member of the Finance, Audit and Compliance Committee.

“On behalf of ABB and our entire Board of Directors I would like to thank Jacob for his significant contribution to ABB’s success as a leader in electrification and automation over the past almost 25 years. At the same time our thanks also go to Gunnar who has played an important role serving on our board over the past six years. I wish both of them well for their future endeavors. We are looking forward to welcoming both Johan and Mats. With their experience as seasoned senior leaders with particular focus on industrial companies and decentralized operating models they will perfectly complement the competencies of our board,” said ABB Chairman Peter Voser.

Johan Forssell has been President and CEO of Investor since 2015 and joined the company in 1995. He has decided to step down from his current position as of May 2024 and will in future be assigned to Investor as an industrial advisor with a particular focus on board assignments in industrial companies. He currently serves on the boards of Atlas Copco AB, Epiroc, Wärtsilä and EQT. Johan Forssell was born in 1971 and is a Swedish citizen.

Mats Rahmström has been President and CEO of Atlas Copco Group since 2017 and joined the company in 1988. He has decided to step down from his current position as of April 2024 to focus on board work and industrial advisory roles going forward. He is currently chairman of the board of Piab AB, board member of Wärtsilä and member of The Royal Swedish Academy of Engineering Sciences. Mats Rahmström was born in 1965 and is a Swedish citizen.

The board members standing for re-election are: Peter Voser, David Constable, Frederico Fleury Curado, Lars Förberg, Denise C. Johnson, Jennifer Xin-Zhe Li, Geraldine Matchett and David Meline. ABB will publish its invitation to the 2024 AGM on February 23, 2024. Further details on ABB’s current Board of Directors can be found here.

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