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ABB has announced that Michel Demare will step down as the company's chief financial officer (CFO) and member of the executive committee.

He has been appointed as the new chairman of Syngenta and will also focus on other board roles.

Demare joined ABB in 2005 as CFO and acted as interim CEO for part of 2008. In addition, he was head of ABB's Global Markets organization for several years. He will leave ABB at a date still to be determined.

A successor to Demare has not yet been named.




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