ABB ABB Ltd

 

 

 

 

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATEISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2024

Commission File Number 001-16429

ABB Ltd

(Translation of registrant’s name into English)

Affolternstrasse 44, CH-8050, Zurich, Switzerland

(Address of principal executive office)

Indicate by check mark whetherthe registrant files or will fileannual reports under cover of Form 20-For Form 40-F.

Form 20-F

☒

Form 40-F

⬜

Indicate by check mark if the registrantis submitting the Form 6-K in paperas permitted by Regulation S-T Rule101(b)(1):

⬜

Note:

Regulation S-T Rule 101(b)(1) onlypermits the submission in paper ofa Form 6-K if submitted solely to providean attached

annual report to security holders.

Indication by check mark if the registrantis submitting the Form 6-K in paperas permitted by Regulation S-T Rule101(b)(7):

⬜

Note:

Regulation S-T Rule 101(b)(7) onlypermits the submission in paper ofa Form 6-K if submitted to furnish areport or other

document that the registrant foreignprivate issuer must furnishand make public under the lawsof the jurisdiction in which the

registrant is incorporated, domiciledor legally organized (the registrant’s “home country”), orunder the rules of the home country

exchange on which the registrant’s securities are traded,as long as the report or other documentis not a press release, is not required

to be and has not been distributed tothe registrant’s security holders, and, if discussinga material event, has already beenthe subject

of a Form 6-K submission or other Commissionfiling on EDGAR.

Indicate by check mark whetherthe registrant by furnishing theinformation contained in this Form isalso thereby furnishing the

information to the Commission pursuantto Rule 12g3-2(b) under the SecuritiesExchange Act of 1934.

Yes

⬜

No

☒

If “Yes” is marked, indicate below the file number assigned to theregistrant in connection with Rule 12g3-2(b):82-

 

This Form 6-K consists of the following:

1.

Press release issued by ABB Ltd datedFebruary 23, 2024, titled “ABBappoints Morten Wierod to succeed Björn

Rosengren as CEO”.

2.

Press release issued by ABB Ltd dated February23, 2024, titled “ABB publishes2023 Integrated Report”.

3.

Press release issued by ABB Ltd dated February23, 2024, titled “Notice ofABB’s Annual General Meeting on

March 21, 2024”.

The Press release contained in Item3 above of this Form 6-K makes referenceto the inclusion of the AGM invitation,however the

invitation is not included in this Form 6-Kbut can be found at www.abb.com/agm

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ZURICH, SWITZERLAND,FEBRUARY 23,2024

ABB appoints Morten Wierodto

succeed Björn Rosengrenas CEO

Ad hoc Announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange

The ABB Board of Directors has appointed Morten Wierod as Chief Executive Officer. He will take office

on August 1, 2024, and succeed Björn Rosengren, who will step down from his positionas Chief Executive

Officer effective July 31, 2024, and retire as of December 31, 2024.

From August 1, 2024, until the end of the year, Björn Rosengren will advise and assist Morten Wierod and

the Executive Committee to ensure a seamless transition.

Morten Wierod (52), a Norwegian citizen, has been appointed by the Board following a thoroughselection

process. He joined ABB in 1998 and has been serving as a member ofABB's Executive Committee since

2019, currently as President of the Electrification Business Area and previouslyas President of the Motion

Business Area. Morten Wierod holds a Master's Degree in Electrical Engineering from the Norwegian

University of Science and Technology.

ABB Chairman Peter Vosersaid: “I am pleased that after a competitive selection process we areable to

name an outstanding internal candidate to lead ABB. Morten is a strongsuccessor to Björn with his deep

understanding of ABB and our decentralized operating model in additionto his extensive expertise across

our key customer segments and strong performance track record. UnderMorten’s leadership, ABB will

continue to focus on our key priorities while our new financialand sustainability targets remain firmly in

place.

“At the same time, the Board is extremely grateful to Björn for his outstandingleadership over the past four

years. He was instrumental in aligning ABB’s business portfolio to our purpose and significantly improving

our financial and sustainability performance thanks to our ABB Way operating model. Björn will hand over

an efficient, more profitable and faster growing ABB.”

Morten Wierod commented: “I am grateful that the Board has given me the opportunity tolead this great

company with its people and technologies that are at the heartof building a low-carbon ociety. It has been a

privilege to work alongside Björn over the past years. Afterwe have set more ambitious financial and

sustainability standards not long ago, I will continue building on our decentralizedoperating model to

capture the full potential of our market leading positions in electrification and automation.”

Björn Rosengren commented: “It has been an honor to lead ABB over the pastyears and I am convinced that

the company will be in good hands with Morten. Together with our more than 105,000 people, we have

transformed ABB into an agile and purpose-driven leader in electrificationand automation that has an

important role in helping to accelerate the energy transition. I am convinced thatABB is in a unique position

to seize the opportunities ahead.”

A search process for Morten Wierod’s existing position as Business Area President Electrification will be

launched shortly.

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A full biography of Morten Wierod is available on ABB’s website. High-resolution images can be accessed

here and here.

ABB

is a technology leader in electrification and automation, enabling amore sustainable and

resource-efficient future. The company’s solutions connect engineering know-how and software to optimize

how things are manufactured, moved, powered and operated. Building on over140 years of excellence,

ABB’s more than 105,000 employees are committed to driving innovations that accelerateindustrial

transformation. www.abb.com

—

For more information pleasecontact:

Media Relations

Phone: +41 43 317 71 11

Email: media.relations@ch.abb.com

Investor Relations

Phone: +41 43 317 71 11

Email: investor.relations@ch.abb.com

ABB Ltd

Affolternstrasse 44

8050 Zurich

Switzerland

ABB APPOINTS MORTEN WIERODTO SUCCEED BJÖRN ROSENGRENAS CEO

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ZURICH, SWITZERLAND, FEBRUARY 23, 2024

ABB publishes 2023 Integrated Report

Ad hoc Announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange

●

Report covers ABB’s 2023 strategy, business, governance, financial and sustainability performance

●

76 percent reduction of scope 1 and 2 GHG emissions since 2019

●

74 megatons CO2e emissions avoided throughout lifetime of products sold in2023

ABB today published its Integrated Report, which is the company’s primary report at Group level. Thereport

integrates the most important material information about the company’s strategy, business, governance as

well as its financial and sustainability performance. In addition tothe Integrated Report, ABB’s 2023 Annual

Reporting Suite published today includes its Financial Report,Corporate Governance Report, Compensation

Report, Sustainability Report as well as the Form 20-F that was filed withthe United States Securities and

Exchange Commission.

ABB Chairman Peter Vosersaid: “By combining our technology leadership in electrification andautomation

with our decentralized ABB Way operating model we create holistic value for our stakeholders while

enabling a more sustainable and resource-efficient future. In 2023, we took advantageof the positive market

environment and strong secular demand drivers and our financial and sustainabilityachievements show that

we are heading in the right direction.”

ABB’s value creation model provides a comprehensive summary of the holistic value the company generates

for all stakeholders across its entire value chain, including customers,employees, investors and suppliers. It

outlines the inputs that ABB needs to create value and illustrates howthe Group transforms these inputs into

outputs and outcomes through its decentralized operating model.

Commenting on ABB’s achievements in 2023, CEO Björn Rosengren said: “2023 was a record year for

ABB. We delivered strong performance and as a technology leader in electrification and automation, ABB

continued to play a key role in accelerating the energy transition for a net-zerofuture. Our solutions helped

to optimize, electrify and decarbonize industry, buildings, power and transport – sectors that together account

for the lion’s share of global energy-related carbon emissions. By doing this, we made the ways we move,

produce, work and live more sustainable and we continued to make goodprogress

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towards achieving our sustainability targets. I am proud of the ABB team for delivering suchgood results

and creating value for all our stakeholders.”

Good progress towards sustainability goals

As part of ABB’s efforts to enable a low-carbon society,the company submitted updated CO

2

e emissions

reduction targets aligned with the Net-Zero Standard of the Science-Based Targets initiative (SBTi) for

validation. These targets include ABB’s scope 1 and 2 emissions, which it aims to reduce by 80 percent by

2030 and 100 percent by 2050, compared to a 2019 baseline, as well asits scope 3 emissions, covering the

rest of its value chain, which it aims to cut by 25 percent by 2030 and 90 percentby 2050, compared to a

2022 baseline.

In 2023, ABB achieved a reduction of 76 percent in its scope 1 and 2 emissionscompared to 2019 and

scope 3 emissions stayed flat compared to 2022, based on measured energy loss (representativescenario).

When calculating based on energy input (strict scenario) the company reports an 11 percent increasein scope

3 emissions compared to 2022.

The company also reduced its energy consumption by 21 percent compared to 2019.At the end of 2023,

64 percent of ABB’s energy consumption and 94 percent of its electricity came from renewable sources.

In 2023, the products ABB sold to customers will avoid 74 megatons ofemissions over their lifetime. This

contributes to the company’s ambition to support customers in avoiding 600 megatons of GHG emissions

from 2022 to 2030, based on all the products the company expects to sellover that period.

As part of the preserving resources pillar of its Sustainability Agenda, ABBfurther reduced the amount of

waste it sends to landfill to 6.3 percent in 2023, a 40 percent reduction since 2019, whilerecycling 86 percent

of its waste. By the end of 2023, ABB had also assessed 31 percent of its product portfolioas part of its goal

of covering at least 80 percent of its portfolio of products and solutions withits Circularity Approach by

2030.

Finally, in line with its goal of promoting social progress, in 2023, ABB reduced its rate of lost time caused

by injuries (LTIFR) by 9 percent to industry-leading levels. And it increased the number of women in senior

management positions to 21 percent, up from 17.8 percent in 2022. The companyalso expanded its programs

for community engagement to cover education, emergency and disaster relief, communityempowerment,

and environment and conservation, and supported more than 500 communityprojects and charities in 2023.

ABB’s full annual reporting suite including the Integrated Report and Sustainability Report can be accessed

and downloaded here: go.abb/reports

ABB

is a technology leader in electrification and automation, enabling amore sustainable and resource-

efficient future. The company’s solutions connect engineering know-how and software to optimize how

things are manufactured, moved, powered and operated. Building on over 140 yearsof excellence, ABB’s

more than 105,000 employees are committed to driving innovationsthat accelerate industrial transformation.

www.abb.com

ABB PUBLISHES 2023INTEGRATEDREPORT

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For more information pleasecontact:

Media Relations

Phone: +41 43 317 71 11

Email: media.relations@ch.abb.com

Investor Relations

Phone: +41 43 317 71 11

Email: investor.relations@ch.abb.com

ABB Ltd

Affolternstrasse 44

8050 Zurich

Switzerland

ABB PUBLISHES 2023INTEGRATEDREPORT

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ZURICH, SWITZERLAND, FEBRUARY 23, 2024

Notice of ABB’sAnnual General

Meeting on March21, 2024

ABB today published the invitation to its Annual General Meeting (AGM),which will be held on Thursday,

March 21, 2024, at 10:00 a.m. The invitation can be found attached and at go.abb/agm.The Annual General

Meeting 2024 will be held at Halle 550, Birchstrasse 150, 8050 Zurich,Switzerland, and will also be

broadcast at go.abb/agm.

Registration and admission cards

Shareholders entered in the share register with the right to vote onMarch 13, 2024, 3:00 p.m. (CET), are

entitled to participate in the Annual General Meeting. These shareholderswill receive their admission cards

(by mail) on request, either using the reply form enclosedto the invitation or electronically (e-voting). The

reply form or a corresponding notification must reach the Company notlater than March 15, 2024 (by mail

or e-voting). Reply forms or notifications arriving after that date will not betaken into consideration.

Proxy/Voting

If you cannot attend our Annual General Meeting in person, you maybe represented by proxy.

Electronic authorizations/voting and instructions to the independent proxy (e-voting)

Shareholders may use the shareholder platform at www.gvote.ch to either request an admission card or issue

voting instructions to the independent proxy.

The requisite login details are enclosed in the reply form. Shareholdersmay vote electronically, or change

any instructions they may have communicated electronically, up to but no later than 11:59 p.m. (CET) on

March 15, 2024. For further information as well as instructions onhow to register and vote electronically,

please refer to go.abb/agm.

Agenda

1. Approval of the management report, the consolidated financialstatements and the annual financial

statements for 2023

2. Consultative vote on the Compensation Report 2023

3. Consultative vote on the Sustainability Report 2023

4. Discharge of the Board of Directors and the persons entrusted with management

5. Appropriation of earnings

6. Approval of the compensation of the Board of Directors and the ExecutiveCommittee

6.1 Approval of the maximum aggregate amount of compensation of theBoard of Directors for

the next term of office, i. e. from the Annual General Meeting 2024 to the AnnualGeneral

Meeting 2025

6.2 Approval of the maximum aggregate amount of compensation of the ExecutiveCommittee

for the following financial year, i. e. 2025

7. Elections to the Board of Directors and election of the Chairman ofthe Board of Directors

8. Elections to the Compensation Committee

9. Election of the independent proxy

10. Election of the auditors

ABB

is a technology leader in electrification and automation, enabling amore sustainable and

resource-efficient future. The company’s solutions connect engineering know-how and software to optimize

how things are manufactured, moved, powered and operated. Building on over140 years of excellence,

ABB’s more than 105,000 employees are committed to driving innovations that accelerate industrial

transformation. www.abb.com

—

For more information pleasecontact:

Media Relations

Phone: +41 43 317 71 11

Email: media.relations@ch.abb.com

Investor Relations

Phone: +41 43 317 71 11

Email: investor.relations@ch.abb.com

ABB Ltd

Affolternstrasse 44

8050 Zurich

Switzerland

NOTICE OF ABB’S ANNUALGENERAL MEETINGON MARCH 21,2024

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SIGNATURES

Pursuant to the requirements of the SecuritiesExchange Act of 1934, the registranthas duly caused this report to be

signed on its behalf by the undersigned,thereunto duly authorized.

ABB LTD

Date: February 23, 2024.

By:

/s/ Ann-Sophie Nordh

Name:

Ann-Sofie Nordh

Title:

Group Senior Vice President and

Head of Investor Relations

Date: February 23, 2024.

By:

/s/ Richard A. Brown

Name:

Richard A. Brown

Title:

Group Senior Vice President and

Chief Counsel Corporate & Finance