February 26, 2020 / 6:05 AM / a month ago

Ex-ABB CEO Spiesshofer to get $13.3 mln after leaving company

ZURICH, Feb 26 (Reuters) - ABB will pay its former Chief Executive Ulrich 13 million Swiss francs ($13.32 million)after he left the company, the Swiss engineering company said in its annual report published on Wednesday.

Spiesshofer, who was fired in April after years of underperformance, will get 8.56 million francs for his notice period which runs to the end of April this year.

He will also get 4.47 million francs for a non-compete clause which runs to May 2021. ($1 = 0.9763 Swiss francs) (Reporting by John Revill Editing by Shri Navaratnam)

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