New leadership at ABB

ABB Board of Directors appoints Jürgen Dormann president and CEO

Zurich, Switzerland, Sept. 5, 2002 - ABB’s Board of Directors today announced that Jürgen Dormann, Chairman of the Board, will assume operational leadership of the ABB Group with immediate effect, aiming to speed up effective implementation of the company strategy.

Jörgen Centerman has resigned as ABB president and CEO, and as a member of the ABB Board of Directors.

Dormann said that under his leadership, ABB will continue to concentrate on its core activities in the fields of power and automation technologies.

"ABB will take advantage of its excellent market positions, customer relationships and sales organizations,” Dormann said. “We will energize our teams to better capitalize on these strengths, speed up implementation and increase the effectiveness in executing our strategy."

Dormann added: "At the same time, we will work hard to rebuild investors’ confidence, with a strong emphasis on improving operational performance and transparency."

Dormann has been a member of the ABB Board of Directors since 1998 and its chairman since November last year. He also chairs the Supervisory Board of Aventis, the pharmaceutical group he formed and refocused as Chairman of the Management Board. Aventis was formed in the cross-border merger of Rhone-Poulenc and Hoechst, the German group which Dormann restructured in his years as its CEO prior to the merger.

ABB will host a conference call for media at 1815 CET today, 5 September, 2002. If you wish to listen, call: +41 91 610 41 11 (Europe and rest of world).

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impacts. The ABB Group of companies operates in more than 100 countries and employs about 150,000 people.

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