May 10, 2013 – Citing private reasons, ABB CEO Joe Hogan (in photo) is leaving the company. His departure date has not been set, says ABB, and he will continue to lead the company until a successor is found.

“This has been a difficult decision, as I leave behind a strong and talented executive committee and a cohesive board whose support I could always count on,” said Hogan. “I look forward to making a smooth transition with as little disruption as possible to the positive momentum that ABB has established.”

Hogan joined ABB as CEO in September 2008. During his time at the helm, ABB has invested about $20 billion to strengthen the company; major investments were made in acquisitions and in R&D.

“Joe is a great and successful CEO and has done a remarkable job of leading the company through the deepest economic crisis in living memory,” said chair Hubertus von Grunberg. “ABB today is in a much better position than it was when he joined five years ago.”