Björn Rosengren, has been selected as the next CEO of Zurich, Switzerland-based ABB, the parent company of ABB-Baldor in Fort Smith. Rosengren is expected to join the company Feb. 1, 2020, and will succeed CEO Peter Voser, who will remain as ABB board chairman.
Rosengren, 60, a Swedish citizen, is a highly experienced, international executive and leader of industrial businesses, according to an ABB statement announcing his selection. He has been the CEO of Sandvik, a high-tech global engineering group, since 2015. During this time, he has overseen the successful implementation of a decentralized structure and improved both the profitability and financial strength of Sandvik.
Prior to that, he was CEO of Wärtsilä Corporation, which manufactures and services power sources and other equipment for the marine and energy markets (2011-2015) and spent 13 years (1998-2011) in a variety of management roles at Atlas Copco, a world leading provider of sustainable productivity solutions.
“The Board is pleased that Björn Rosengren will be taking the lead at ABB, bringing with him a proven track record of value creation and exactly the managerial skills ABB needs during the next stage of its transformation,” ABB Chairman and CEO, Peter Voser said in the statement. “After undertaking a thorough search, the Board is convinced that Björn Rosengren is the best candidate for the role. He understands how to establish successful decentralized organizations, empower people and demonstrates the culture of cooperation and high performance. Together with our strong management team, he will drive ABB’s strategy and deliver long-term value to all our stakeholders.”
CEO-designate, Björn Rosengren, said: “I am honored to have the opportunity to join ABB, a truly global technology leader, after I have completed my current commitments. At such a pivotal time for manufacturing industries, ABB must continue to best serve the needs of global customers with a unique technology and digital solutions portfolio to help enhance their productivity.”
Prior to being acquired in a $4.2 billion deal in early 2011 by ABB, Fort Smith-based Baldor employed between 7,000 and 7,500 in 26 plants in five countries and sales offices serving more than 80 countries. About 2,000 were then employed in the Fort Smith area.
ABB operates four primary businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. The company’s ABB’s power grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 147,000 employees.