ABB names Frank Duggan to Group Executive Committee
Michel Demaré will focus on role as Chief Financial Officer after supporting market development during challenging economic environment
Demaré strongly developed Global Markets after assuming responsibility for the function in September 2008, making a significant contribution to the resilience of the company in a challenging economic environment. He has also provided decisive support to initiatives to improve the balance of ABB's global footprint during this time. Demaré will focus on his role as Chief Financial Officer following a return to growth in ABB's global markets.
Duggan has been manager of ABB's India, Middle East and Africa region since 2008. India was assigned to this region in 2009. He will retain this role when he takes up his new position on March 1, 2011.
"Michel has done a great job in establishing a pivotal role for Global Markets as a channel through which the needs and opportunities of our global market organizations are brought to the Group level, and in contributing to the resilience of our markets in turbulent times," said CEO Joe Hogan. "It is now the right time to transition this role to Frank Duggan. His deep understanding of the priorities of mature and emerging markets, his attitude and his passion for ABB will all be very valuable at an important time for our growth ambitions and to strengthen our customer focus."
Duggan joined ABB in 1985 and has held a variety of roles including global management positions in the Process Automation division, and country management roles in Europe and Asia.
Duggan will continue to be based in Dubai, and the other seven regions of the Global Markets organization will report to him.
ABB Asea Brown Boveri Ltd
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 124,000 people.
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