Zurich, Switzerland, February 28, 1996 - In line with the announced changes in ABB's governance structure, the two Co-Chairmen, Peter Wallenberg, who will be 70 this year, and David de Pury have resigned from their positions as Co-Chairmen of ABB. The Board thanks them for their excellent contribution to the company.
The following persons have been newly elected to the ABB Board :
Percy N. Barnevik, President and CEO of ABB Asea Brown Boveri Ltd.
Robert A. Jeker, Managing Director of Unotec Holding AG, Switzerland
Yotaro Kobayashi, Chairman and CEO of Fuji Xerox Co., Tokyo, Japan
Peter D. Sutherland, Chairman and Managing Director of Goldman Sachs International, U.K., former GATT Chairman and Commissioner in the European Union.
Lodewijk C. van Wachem, Chairman of the Board of the Royal Dutch Petroleum Company, the Hague, Holland.
The following persons have been reelected to the ABB Board :
Claes Dahlback, President and CEO of Investor AB, Sweden
Helmut O. Maucher, Chairman and CEO of Nestle SA., Switzerland
Bernd H. Mueller-Berghoff, Deputy Chairman of BBC, Switzerland
Donald H. Rumsfeld, former President and CEO of G.D. Searle & Co., Chicago, USA, former US Secretary of Defense
Stephan Schmidheiny, Chairman of Unotec Holding AG, Switzerland
Bjorn Svedberg, President and CEO of Skandinaviska Enskilda Banken, Sweden
Percy N. Barnevik has been elected Chairman of the Board of ABB. Mr. Barnevik retains the CEO responsibility until a new President/CEO is appointed.
ABB Asea Brown Boveri Ltd Board, Zurich/Stockholm.
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