ABB announces departure of drive technology boss
Published: Wednesday, Mar 27th 2024, 08:50
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The head of the Drive Technology division is to leave the technology group ABB. Tarak Mehta, who is also a member of the Group Executive Board, will leave ABB at the end of July to take up the position of CEO at another company, according to a press release issued on Wednesday.
Mehta joined ABB in 1998 and has since held a number of positions of increasing responsibility in the United States, Sweden and Switzerland. He has been a member of the Group Executive Board since 2010 and has held his current position since April 2022.
According to the press release, he contributed to the Drive Technology division achieving a record operating EBITA margin last year. Under his leadership, the division was also well positioned to contribute to ABB's higher financial targets in the future.
A recruitment process for the position of Head of the Drive Technology division will be initiated shortly, according to the information provided.
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