ZURICH: ABB Ltd surged after chief executive officer Ulrich Spiesshofer abruptly left the Swiss engineering company after failing to impress shareholders with a plan to hive off the power grids business.
Chairman Peter Voser will take on the role in the interim during the search for a successor, ABB said in a statement, adding that Spiesshofer and the board “mutually agreed for him to step down” after being in the job since 2013.
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