Changes in the composition of the ABB Board of Directors

ABB announces that the Board of Directors has elected Johan Forssell and Mats Rahmström as new members at the company’s Annual General Meeting (AGM). They will replace Jacob Wallenberg and Gunnar Brock, who have decided not to stand for re-election. Jacob Wallenberg has been Deputy Chairman of the Board since 2015 and a non-executive member since 1999. He is a member of the Governance and Nomination Committee. Gunnar Brock has served on ABB’s Board of Directors since 2018 and is a member of the Finance, Audit and Compliance Committee.

“On behalf of ABB and all the members of our Board of Directors, I would like to thank Jacob for his significant contribution to the success of ABB, a leader in electrification and automation for almost 25 years. Our thanks also go to Gunnar, who has played a major role on our Board for the past six years. I wish them every success in their future endeavours. We look forward to welcoming Johan and Mats. With their experience as seasoned executives, particularly in industrial companies and decentralised operating models, they will perfectly complement the skills of our Board of Directors,” said Peter Voser, Chairman of ABB’s Board of Directors.

Johan Forssell has been CEO of Investor since 2015 and joined the company in 1995. He has decided to step down from his current position in May 2024. He will subsequently take up the position of Industrial Advisor to Investor, with a particular focus on advisory assignments for industrial companies. He currently sits 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 CEO of Atlas Copco Group since 2017 and joined the company in 1988. He has decided to step down from his current position in April 2024 to focus from now on on his work in the Board of Directors and his mandates as an industry advisor. He is currently Chairman of the Board of Piab AB, a member of the Board of Wärtsilä and a member of the Royal Swedish Academy of Engineering Sciences. Mats Rahmström was born in 1965 and is a Swedish citizen.

Peter Voser was confirmed as Chairman of the company’s Board of Directors. All the other members of the Board were re-elected for another term: David Constable, Frederico Fleury Curado, Lars Förberg, Denise C. Johnson, Jennifer XinZhe Li, Geraldine Matchett and David Meline.