ABB chief executive officer Fred Kindle is leaving the company due to irreconcilable differences about how to lead the company. The board of directors named chief financial officer Michel Demaré as interim CEO.

Fred Kindle joined the company in September 2004 and took over as president and CEO in January 2005. He oversaw a period of strong organic growth and a return to profitability at ABB.The board fully supports the strategic targets announced in September 2007 and is confident in the executive committee’s ability to drive the strategy forward. The board will immediately begin the search for a successor.

“The board is very thankful to Fred Kindle for driving the company to the extraordinary level of performance it achieved over the last three years,” chairman Hubertus von Grünberg said. “He successfully streamlined and strengthened the company’s operations around the world. Under his leadership, ABB today is a leading company in respect of growth, profitability and business ethics.”