The Swiss Times - Swiss News in English

ABB announces departure of drive technology boss

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.


Most Read

Sunday, April 7 – Round Up

7 April 2024
Switzerland may fund French nuclear projects as it grapples with internal issues in the news this Sunday morning.

Swiss Employers Association: Increase Retirement Ages

8 April 2024
Following the rejection of a pension initiative, the Swiss Employers' Association (SAV) recommends a gradual raise in retirement age to 66.

Mustafa Atici Wins: First Migrant in the Executive

8 April 2024
Mustafa Atici, a Kurdish-born entrepreneur, wins the Basel's government election, the first migrant in the executive.

Swiss Oculis Secures $59M in Funding: Iceland Listing Next

11 April 2024
Oculis finalises a $59 million investment round and sets sights on Nasdaq Iceland listing, bolstering its innovative eye care solutions.

Stay in Touch!


Barry Callebaut Beats Market Trends with Sales Increase
10 April 2024
Zug Leads Swiss Purchasing Power: GfK Study Insights
9 April 2024