ABB Appoints New Head of Oil, Gas and Petrochemicals Segment

Zurich, Switzerland, December 4, 1998 - ABB, the international engineering and technology group, today announced it has appointed Gorm Gundersen to Executive Vice President and Member of the ABB Group Executive Committee, in charge of its Oil, Gas and Petrochemicals Segment, effective immediately.

Mr. Gundersen, 54, has been head of ABB’s global Oil, Gas and Petrochemicals business area, based in Billingstad, Norway, and was deputy manager of the business area since 1995. He has held a variety of senior management positions at ABB, including Executive Vice President of ABB Norway and, from 1990 to 1992, head of ABB’s global Hydro Power Plants business area. Prior to 1988, Mr. Gundersen headed the power generation business and held various engineering and managerial positions at Norway’s EB Corporation. He joined EB Corporation, which later became ABB Norway, in 1972. Mr. Gundersen holds a Ph.D. in electrical engineering. He will take up his new responsibilities from ABB Group headquarters in Zurich.

"Gorm brings in-depth industry knowledge and years of experience as a global manager to this key business, which we have targeted for significant growth in the years ahead," said Göran Lindahl, ABB’s President and CEO. "He’s a strong addition to our strategic management team."

Mr. Gundersen succeeds Kjell Almskog, who is leaving ABB for a new position outside the Group.

ABB’s Oil, Gas and Petrochemicals Segment reported orders in 1997 of more than US$ 3 billion. The business develops and supplies refineries, composite petrochemical plants and offshore installations worldwide. The ABB Group serves customers worldwide in power generation, transmission, and distribution; automation; oil, gas, and petrochemicals; industrial products and contracting; financial services; and rail transportation. The Group reported orders in 1997 of US$ 35 billion and employs about 214,000 people in more than 100 countries. (End)

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    • Mr. John Fox
      ABB Corporate Communications, Zurich
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