December 18, 2019 / 5:58 AM / 2 months ago

BRIEF-ABB Names Claudio Facchin As Head Of Power Grids Business

Dec 18 (Reuters) - Abb Ltd:

* ABB ANNOUNCES CHANGES TO EXECUTIVE COMMITTEE

* CLAUDIO FACCHIN, FRANK DUGGAN AND CHUNYUAN GU WILL STEP DOWN FROM EXECUTIVE COMMITTEE OF ABB AS PART OF ORGANIZATIONAL TRANSFORMATION

* WITH ANNOUNCED DIVESTMENT OF POWER GRIDS TO HITACHI, CLAUDIO FACCHIN WILL CONTINUE TO LEAD POWER GRIDS AS A STANDALONE BUSINESS AHEAD OF CLOSING OF TRANSACTION

* CLOSING OF TRANSACTION EXPECTED IN H1 OF 2020

* DUGGAN AND GU WILL STEP DOWN FROM ROLES AS THOSE ROLES ARE TO BE DISCONTINUED UNDER NEW ABB OPERATING SYSTEM

* DUGGAN AND GU WILL CONTINUE AS ADVISORS TO COMPANY Source text for Eikon: Further company coverage: (Berlin Speed Desk)

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