ABB, the leading power and automation technology group, has announced that Mr Michel Demaré will step down as ABB's CFO and member of the executive committee. He has been appointed as the new chairman of the board of Syngenta beginning in April 2013 and will in the future focus on his various board roles.

Mr Demaré joined ABB in 2005 as CFO and acted as interim CEO for part of 2008. In addition, he was head of ABB's Global Markets organization for several years. He will leave ABB at a date still to be determined.

Mr Joe Hogan CEO of ABB said that "Mr Michel Demaré has had outstanding track records during his time with ABB. The company's strong financial position today is testimony to his achievements. We congratulate him on his appointment as chairman of Syngenta and thank him for the energy and professionalism that he has brought to his roles at ABB."

A successor to Mr Demaré will be announced in due course.

Source - ABB

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