Bloomberg Law
Nov. 19, 2020, 1:13 PM

ABB’s Revamp Deepens With CEO Plan to Exit Three Businesses (2)

Leonard Kehnscherper
Leonard Kehnscherper
Bloomberg News

ABB Ltd. is looking to exit three divisions with combined revenues of $1.75 billion and may list one of them on the stock exchange as part of Chief Executive Officer Bjoern Rosengren’s plan to boost the Swiss engineer’s profitability.

The Zurich-based company will explore options for turbocharging, mechanical power transmission and power conversion, according to a statement. Ahead of an investor day event, Rosengren told Bloomberg TV’s Manus Cranny and Annmarie Hordern that ABB is considering a spinoff of the turbocharging unit.

“We believe that with a large service operation of almost 75% of the business and a strong ...