November 15, 2012 / 8:46 AM / 5 years ago

UPDATE 1-ABB appoints veteran as new finance chief

* Eric Elzvik to take over as CFO on Feb 1, 2013

* CEO says nomination to guarantee continuity (Adds details)

ZURICH, Nov 15 (Reuters) - ABB, a Swiss maker of power products and industrial robots, on Thursday appointed veteran employee Eric Elzvik as its new chief financial officer, filling a vacancy left by the outgoing Michel Demare.

Elzvik, 52, is currently in charge of finances at ABB's discrete automation and motion unit. He joined the company in 1984 and has worked in Sweden, Singapore and Switzerland in roles such including head of mergers and acquisitions.

"Eric is a familiar figure to bankers and the financial community and his presence guarantees continuity in terms of financial strategy and governance," Chief Executive Joe Hogan said in a statement.

Elzvik will take up his new role on Feb. 1, 2013. The outgoing Demare is leaving to become chairman at agrochemicals company Syngenta.

ABB shares were down 0.8 percent at 16.93 Swiss francs ($17.90) by 0823 GMT, in line with a 0.7 percent fall for the Swiss blue-chip index. ($1 = 0.9461 Swiss francs) (Reporting by Catherine Bosley and Caroline Copley; Editing by David Goodman)

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