ABB's Chief Executive Goeran Lindahl Named Industry Week CEO Of The Year

First non-US CEO to achieve distinction from Industry Week

Zurich, November 11, 1999 - Goeran Lindahl, President and CEO of global technology and engineering group ABB, has been named 1999 CEO of the Year by Industry Weekmagazine.

Mr. Lindahl, 54, is the first non-U.S. CEO to achieve this distinction. Previous recipients celebrated by Industry Week as CEO of the Year/Most Respected CEO were IBM’s Lou Gerstner, Dell Computer’s Michael Dell, GE’s Jack Welch and Microsoft’s Bill Gates.

In considering candidates for the honor, Industry Week evaluates CEOs of global manufacturing companies that demonstrate outstanding vision, energy, flexibility, communications skills, leadership capability, strategic savvy, strong shareholder value building, efficient resource deployment, industry leadership, and corporate citizenship. The award represents the top honor bestowed by Industry Week.

The U.S.-based magazine cited Mr. Lindahl for the strategic changes he has carried out since taking over as CEO at the beginning of 1997. These include the $2 billion acquisition of Elsag Bailey Process Automation, the divestiture of ABB’s 50-percent interest in the Adtranz rail joint venture with DaimlerChrysler, and the creation with France’s ALSTOM of the ABB ALSTOM POWER joint venture, the world’s largest power generation company.

Other reasons cited for the honor were Mr. Lindahl's drive to create and sustain synergies throughout the company, his belief in the benefits of globalization, the effort to create a truly multicultural corporate mission and values statement, and his commitment to provide greater opportunities for younger managers.

In August of this year, Industry Week named ABB to its annual list of the world’s 100 Best-Managed Companies.

Mr. Lindahl began his career in 1971 with ASEA AB, the former Swedish co-parent of ABB. In 1985 he was appointed president of ASEA Transmission and in 1986 became a member of ASEA Group Executive Management. He was appointed Executive Vice President of ABB and a member of the company's Executive Committee when the company was created in 1988 through the merger of ASEA and BBC Brown Boveri of Switzerland. In that capacity, Mr. Lindahl was responsible for the Power Transmission and Distribution Segment and at various times for operations in the Asia Pacific region, the Indian subcontinent, the Middle East and North Africa.

Mr. Lindahl earned a Masters Degree in electrical engineering from Chalmers University of Technology in Gothenburg, Sweden in 1971. In 1993 he was awarded an Honorary Doctorate Degree in Technology, D. Sc. (Eng.), also from Chalmers University.

In July 1999, Mr. Lindahl was elected to the board of directors of U.S.-based DuPont. Mr. Lindahl holds appointments on a number of international and multi-lateral associations, including Vice Chairman of the Board of The Prince of Wales Business Leaders Forum, and member of the World Commission on Dams--the only private industry representative. In addition to his role at DuPont, Mr. Lindahl serves on the Board of LM Ericsson AB, of Sweden.

ABB serves customers in power transmission and distribution; automation; oil, gas, and petrochemicals; industrial products and contracting; and in financial services. Power generation customers are served by the joint venture ABB ALSTOM POWER. The ABB Group employs about 170,000 people in more than 100 countries. (End)

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    • John Fox
      ABB Corporate Communications, Zurich
      Tel. +41 1 317 7371
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