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ABB names Timo Ihamuotila as new chief financial officer

Timo IhamuotilaABB, a robotics and the power and automation technology company, announced that Timo Ihamuotila has been named chief financial officer and member of the executive committee, effective April 1, 2017.

Mrr. Ihamuotila is joining ABB from Nokia, where he has held the position of CFO since 2009.

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Mr. Ihamuotila brings with him 26 years of experience in the communications and banking sector and has deep experience in areas as finance, controlling, mergers & acquisitions, commercial and general management.

Prior to taking his current role, Mr. Ihamuotila held positions at the Finnish communications technology firm that included executive vice president of sales, general manager of a business unit and Group treasurer. Earlier in his career, he held positions at Citibank and Kansallis Bank.

He earned a master of science degree in economics and a post graduate degree in finance from the Helsinki School of Economics.

Mr. Ihamuotila succeeds current CFO Eric Elzvik in an orderly transition process.

Mr. Elzvik will pursue career opportunities outside of ABB after a thorough handover in second quarter of 2017.

Mr. Elzvik joined ABB in 1984 and has during his long and distinguished career held a variety of leadership roles in Sweden, Singapore and Switzerland, including head of Corporate Development, and head of Mergers & Acquisitions and Joint Ventures.

He was CFO of the Automation Products division from 2006 and in 2010 became CFO for the Discrete Automation and Motion division. He serves ABB as Group CFO since February 2013.


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