ZÃœRICH, SWITZERLAND -- ABB has reduced the number of its Board members from 11 to 10 and aims for greater gender diversity within the next two years.
ABB member of the Board of Directors, Matti Alahuhta (68), has decided not to stand for re-election at the company's upcoming Annual General Meeting (AGM) in Zurich on March 25, 2021. A new member will not be proposed, meaning that the number of Board members will be reduced from 11 to 10, the company said in a press release.
"On behalf of ABB, I would like to thank Matti for his outstanding service as a member of the Board since 2014. He has brought a wealth of knowledge and experience in strategy, technology and leadership to ABB and we wish him all the best in his future endeavours," said ABB Chairman Peter Voser.
"I am very proud to have supported ABB along its exciting transformational journey over the last few years and I am convinced it is perfectly positioned to reap the benefits of its new operating model and structure and its exposure to the key trends of electrification, automation and digitalization," said Alahuhta.
After carrying out a detailed review of the Board's composition, it has been concluded that there is a very good mix of experience, but at the same time there is a need to strengthen the gender diversity of the Board within the next two years, preferably at the AGM in March 2022.
The Board members standing for re-election are: Peter Voser, Jacob Wallenberg, Gunnar Brock, David Constable, Frederico Fleury Curado, Lars Förberg, Jennifer Xin-Zhe Li, Geraldine Matchett, David Meline and Satish Pai.
