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Switzerland: ABB announced on 27th March, 2024,
that Tarak Mehta, President, Motion Business Area and Member of the Executive
Committee, has decided to leave ABB since he has accepted the role as CEO of
another company. Tarak will leave ABB at the end of July this year.
Tarak joined ABB in 1998 and has since then held a number of
positions of increasing responsibility in the United States, Sweden and
Switzerland. He joined ABB’s Executive Committee in 2010 and was appointed to
his current position in April 2022.
“Throughout his 26 year career at ABB, Tarak has
demonstrated exceptional leadership. As Executive Committee member and Business
Area President, Tarak has contributed to achieving a record high operational
EBITA margin in the past year in our Motion business and the Business Area is
well-positioned to contribute to ABB’s higher financial targets going forward.
Before that, he played a key role in further strengthening our leading position
in the United States, ABB’s largest market, for our electrification business,”
said CEO, Björn Rosengren. “We thank Tarak for his outstanding contribution to
the success of our company and wish him all the best for both his professional and
personal future endeavors.”
“I would like to express my sincere gratitude and
appreciation to everyone I have worked with over the years. Thank you for your
support, efforts, guidance and the results we have achieved together. It has
been a wonderful journey of 26 years filled with challenges and opportunities
as well as personal and professional growth. I wish the ABB team a continued bright
future,” said Tarak Mehta.
A search process for the position of President, Motion
Business Area will be launched shortly.
ABB is a technology leader in electrification and
automation, enabling a more sustainable and resource-efficient future. The
company’s solutions connect engineering know-how and software to optimise how
things are manufactured, moved, powered and operated. Building on over 140
years of excellence, ABB’s more than 105,000 employees are committed to driving
innovations that accelerate industrial transformation.
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INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
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