Swiss-Swedish industrial conglomerate ABB Friday said it has named Morten Wierod to take over as chief executive in August when the current CEO retires.
Wierod, a 52-year-old Norwegian, has worked at ABB since 1998 and most recently ran its electrification division.
He will replace Bjorn Rosengren, 65, who will step down as CEO at the end of July before retiring at the end of the year, "to ensure a seamless transition", the company said in a statement.
"Morten is a strong successor to Bjorn with his deep understanding of ABB and our decentralized operating model in addition to his extensive expertise across our key customer segments and strong performance track record," ABB Chairman Peter Voser said.
Rosengren launched a major reorganisation after taking the helm in March 2020, selling ABB's mechanical power transmission unit and spinning off its turbocompressor operations, before carrying out several small targeted acquisitions.