ABB reshuffles staff, stressing a global focus

Article Abstract:

ABB Asea Brown Boveri AG, an engineering firm established in 1988 by the consolidation of ABB AB of Switzerland and ABB AB of Sweden, has undertaken an internal management scramble that eliminates the company's regional reporting structure. ABB CEO Goeran Lindahl stated that the shuffle, which also reconstructs the firm's various international business activities, will ultimately lead to greater globalization for the company. Lindahl added that the shuffle will curtail the decision process, flatten the organization and improve the speed of decision.

Comment:

Undertakes an internal management scramble that eliminates the company's regional reporting structure

Germany, Management development, ABB AG (Mannheim, Germany), Article

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Abb's net jumps 32% on capital gain

Article Abstract:

ABB Ltd. posted an improvement of 32% in net income for the first-half of 1999. The figure, which was primarily helped by an exceptional capital gain, was higher than expected. ABB posted $839 million (806.7 million euros) in net profits during the period. The first half of the year ended on June 30, 1999. The net income included an exceptional capital gain worth $124 million.

Comment:

Posts improvement of 32% in net income for first-half of 1999

Sales, profits & dividends, Switzerland, Finance, Engineering firms, Abstract, ABB Ltd.

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