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ABB shares jump on new CEO appointment

Aug. 12, 2019 7:28 AM ETABB Ltd (ABBNY) Stock, SDVKY StockSDVKFBy: Yoel Minkoff, SA News Editor4 Comments
  • ABB (NYSE:ABB) +3.6% premarket as the company poached Bjorn Rosengren from Swedish mining equipment firm Sandvik (OTCPK:SDVKY) to be its next chief executive.
  • Rosengren will take over in March. ABB, whose previous CEO Ulrich Spiesshofer left suddenly in April, is in the middle of overhauling its business following years of lackluster profit and bungled acquisitions.

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