ABB nominates Cevian Capital managing partner to the Board

At the coming ABB’s annual general meeting (AGM) on April 13, 2017, all ABB board members will stand for re-election, except for Robyn Denholm and Michel de Rosen, who have decided to not stand for re-election.

Following ABB’s selection process, the Board of Directors has nominated Lars Förberg, Managing Partner at Cevian Capital, as new member for election, the company said in a press statement.

Lars Förberg co-founded Cevian Capital, ABB’s second largest owner today, in 2002 and serves as its Managing Partner.

The shareholders will vote on each person standing for election to the board at the company’s next AGM.

The election of ABB’s nominees would bring down the number of Board members from 11 today to ten.

Source: ABB