0001104659-24-037613.txt : 20240322 0001104659-24-037613.hdr.sgml : 20240322 20240322090736 ACCESSION NUMBER: 0001104659-24-037613 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240322 FILED AS OF DATE: 20240322 DATE AS OF CHANGE: 20240322 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ABB LTD CENTRAL INDEX KEY: 0001091587 STANDARD INDUSTRIAL CLASSIFICATION: SWITCHGEAR & SWITCHBOARD APPARATUS [3613] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16429 FILM NUMBER: 24773345 BUSINESS ADDRESS: STREET 1: PO BOX 8131 STREET 2: CH 8050 CITY: ZURICH SWITZERLAND STATE: V8 ZIP: 999999999 6-K 1 tm249551d1_6k.htm FORM 6-K march222024
 
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE
 
ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2024
Commission File Number 001-16429
ABB Ltd
(Translation of registrant’s name into English)
Affolternstrasse 44, CH-8050, Zurich, Switzerland
(Address of principal executive office)
Indicate by check mark whether
 
the registrant files or will file
 
annual reports under cover of Form 20-F
 
or Form 40-F.
Form 20-F
Form 40-F
Indicate by check mark if the registrant
 
is submitting the Form 6-K in paper
 
as permitted by Regulation S-T Rule
 
101(b)(1):
Note:
 
Regulation S-T Rule 101(b)(1) only
 
permits the submission in paper of
 
a Form 6-K if submitted solely to provide
 
an attached
annual report to security holders.
Indication by check mark if the registrant
 
is submitting the Form 6-K in paper
 
as permitted by Regulation S-T Rule
 
101(b)(7):
Note:
 
Regulation S-T Rule 101(b)(7) only
 
permits the submission in paper of
 
a Form 6-K if submitted to furnish a
 
report or other
document that the registrant foreign
 
private issuer must furnish
 
and make public under the laws
 
of the jurisdiction in which the
registrant is incorporated, domiciled
 
or legally organized (the registrant’s “home country”), or
 
under the rules of the home country
exchange on which the registrant’s securities are traded,
 
as long as the report or other document
 
is not a press release, is not required
to be and has not been distributed to
 
the registrant’s security holders, and, if discussing
 
a material event, has already been
 
the subject
of a Form 6-K submission or other Commission
 
filing on EDGAR.
Indicate by check mark whether
 
the registrant by furnishing the
 
information contained in this Form is
 
also thereby furnishing the
information to the Commission pursuant
 
to Rule 12g3-2(b) under the Securities
 
Exchange Act of 1934.
Yes
No
If “Yes” is marked, indicate below the file number assigned to the
 
registrant in connection with Rule 12g3-2(b):
 
82-
 
This Form 6-K consists of the following:
1.
 
Agenda and resolutions from the ABB Ltd Annual
 
General Meeting of Shareholders
 
held on March 21, 2024.
 
2.
 
Press release issued by ABB Ltd dated March
 
21, 2024, titled “ABB shareholders
 
approve all proposals at 2024
 
Annual
General Meeting”.
3.
 
Press release issued by ABB Ltd dated March
 
21, 2024, titled “ABB plans to
 
launch new share buyback of up to
$1 billion following completion of
 
2023-2024
 
program”.
2
 
ABB Ltd
TRAKTANDEN UND BESCHLÜSSE
AGENDA AND RESOLUTIONS
der ordentlichen Generalversammlung der Aktionärinnen und Aktionäre
from the Annual General Meeting of Shareholders
vom 21. März 2024, 10:00–11:30 Uhr
 
held on March 21, 2024, 10:00 a.m.–11:30 a.m.
 
in der Halle 550, Zürich Oerlikon, Schweiz
at Halle 550, Zurich Oerlikon, Switzerland
___________________________________________________________________________
1.
 
Genehmigung des Lageberichts, der Konzernrechnung und der Jahresrechnung 2023
1.
 
Approval of the management report, the consolidated financial
 
statements and the annual
 
financial
statements for 2023
Die
 
Generalversammlung
 
genehmigt
 
den
 
Lagebericht,
 
die
 
Konzernrechnung
 
und
 
die
 
Jahresrechnung 2023.
The
 
Annual
 
General Meeting
 
approves
 
the
 
management report,
 
the
 
consolidated financial
 
statements and
the annual financial statements for 2023.
Vertretene Stimmen:
Votes
 
represented:
1’085’339’116
Mehrheit:
Majority:
542’669’559
99.81 %
Ja /
Yes
1’083’261’483
Stimmen /
votes
0.01 %
Nein /
No
146’783
Stimmen /
votes
0.18 %
Enthaltung /
Abstention
1’930’850
Stimmen /
votes
ABB Ltd, Annual General Meeting
 
2024/Short Minutes
 
 
 
-
2/11 -
2.
 
Konsultativabstimmung über den Vergütungsbericht 2023
2.
 
Consultative vote on the Compensation
 
Report 2023
Die
 
Generalversammlung
 
stimmt
 
dem
 
Vergütungsbericht
 
2023
 
zu
 
(unverbindliche
Konsultativabstimmung).
The Annual General Meeting accepts
 
the Compensation Report 2023 (non-binding
 
consultative vote).
Vertretene Stimmen:
Votes
 
represented:
1’085’335’066
Mehrheit:
Majority:
542’667’534
90.48 %
Ja /
Yes
981’982’860
Stimmen /
votes
9.20 %
Nein /
No
99’832’810
Stimmen /
votes
0.32 %
Enthaltung /
Abstention
3’519’396
Stimmen /
votes
3.
 
Konsultativabstimmung über den Sustainability Report 2023
3.
 
Consultative vote on the Sustainability
 
Report 2023
Die
 
Generalversammlung
 
stimmt
 
dem
 
Sustainability
 
Report
 
2023
 
zu
 
(unverbindliche
Konsultativabstimmung).
The Annual General Meeting accepts
 
the Sustainability Report 2023 (non-binding
 
consultative vote).
Vertretene Stimmen:
Votes
 
represented:
1’085’341’066
Mehrheit:
Majority:
542’670’534
99.32 %
Ja /
Yes
1’077’905’242
Stimmen /
votes
0.19 %
Nein /
No
2’068’138
Stimmen /
votes
0.49 %
Enthaltung /
Abstention
5’367’686
Stimmen /
votes
ABB AGM 2024 Short Minutes
 
 
- 3/11 -
4.
 
Entlastung des Verwaltungsrates und der mit der Geschäftsführung betrauten Personen
4.
 
Discharge of the Board of Directors and the persons entrusted with management
Die
 
Generalversammlung
 
erteilt
 
den
 
Mitgliedern
 
des
 
Verwaltungsrates
 
und
 
den
 
mit
 
der
 
Geschäftsführung betrauten Personen Entlastung für das Geschäftsjahr
 
2023.
The
 
Annual
 
General
 
Meeting
 
grants
 
discharge
 
for
 
financial
 
year
 
2023
 
to
 
the
 
members
 
of
 
the
 
Board
 
of
Directors and the persons entrusted with management.
Vertretene Stimmen:
Votes
 
represented:
1’084’685’278
Mehrheit:
Majority:
542’342’640
98.68 %
Ja /
Yes
1’070’323’239
Stimmen /
votes
0.78 %
Nein /
No
8’452’619
Stimmen /
votes
0.54 %
Enthaltung /
Abstention
5’909’420
Stimmen /
votes
5.
 
Verwendung des Bilanzgewinns
 
5.
 
Appropriation of earnings
 
Die Generalversammlung
 
stimmt
 
dem
 
Antrag des
 
Verwaltungsrat
 
es
 
zu,
 
aus
 
dem
 
zur Verfügung
stehenden
 
Bilanzgewinn
 
von
 
CHF 3’982’369’258
 
eine
 
Dividende
 
von
 
CHF
 
0.87
 
brutto
 
je
Namenaktie
 
auszuschütten
 
(maximal CHF 1’637'342’240.25)
 
und
 
den
 
verbleibenden Betrag
 
des
Bilanzgewinns auf neue Rechnung vorzutragen.
The Annual
 
General Meeting approves
 
the proposal
 
of the Board
 
of Directors to
 
distribute a dividend
 
out
of
 
the
 
earnings
 
available
 
(CHF 3,982,369,258)
 
in
 
the
 
amount
 
of
 
CHF
 
0.87
 
gross
 
per
 
registered
 
share
(maximum
 
total
 
amount
 
CHF 1,637,342,240.25)
 
and
 
to
 
carry
 
forward
 
the
 
remaining
 
amount
 
of
 
the
available earnings to the new account.
Vertretene Stimmen:
Votes
 
represented:
1’085’339’756
Mehrheit:
Majority:
542’669’879
99.81 %
Ja /
Yes
1’083’272’307
Stimmen /
votes
0.05 %
Nein /
No
551’748
Stimmen /
votes
0.14 %
Enthaltung /
Abstention
1’515’701
Stimmen /
votes
ABB AGM 2024 Short Minutes
 
 
 
- 4/11 -
6.
 
Genehmigung der Vergütung des Verwaltungsrates
 
und der Geschäftsleitung
 
6.
 
Approval of the compensation of the Board of Directors and the Executive
 
Committee
6.1.
 
Genehmigung des maximalen Gesamtbetrags
 
der Vergütung des Verwaltungsrat
 
es für die
kommende Amtsdauer, d. h. von der Generalversammlung 2024 bis zur
Generalversammlung 2025
 
6.1.
 
Approval of the maximum aggregate amount of compensation
 
of the Board of Directors for the next term of
office, i. e. from the Annual General Meeting 2024
 
to the Annual General Meeting
 
2025
Die Generalversammlung genehmigt gemäss Antrag des Verwaltungsrates
The Annual General Meeting approves as proposed by the Board of Directors
 
den maximalen Gesamtbetrag der Vergütung des Verwaltungsrat
 
es für die Zeitspanne von der
Generalversammlung 2024 bis zur Generalversammlung 2025 im Betrag von
 
CHF 4’400’000.
the
 
maximum aggregate
 
amount of
 
compensation of
 
the
 
Board of
 
Directors covering
 
the
 
period from
 
the
Annual General
Meeting
 
2024 to the Annual General Meeting
 
2025 in the amount of CHF 4,400,000.
Vertretene Stimmen:
Votes
 
represented:
1’085’334’810
Mehrheit:
Majority:
542’667’406
98.60 %
Ja /
Yes
1’070’120’842
Stimmen /
votes
1.09 %
Nein /
No
11’789’023
Stimmen /
votes
0.31 %
Enthaltung /
Abstention
3’424’945
Stimmen /
votes
6.2.
 
Genehmigung des maximalen Gesamtbetrags
 
der Vergütung der Geschäftsleitung für das
folgende Geschäftsjahr, d. h. 2025
6.2.
 
Approval of the maximum aggregate amount of compensation
 
of the Executive Committee for
 
the following
financial year, i. e. 2025
Die Generalversammlung genehmigt gemäss Antrag des Verwaltungsrates
The Annual General Meeting approves as proposed by the Board of Directors
 
den maximalen Gesamtbetrag der Vergütung der Geschäftsleitung für das Geschäftsjahr 2025 im
Betrag von CHF 45’900’000.
the maximum aggregate amount of compensation of the Executive Committee for the financial year 2025 in
the amount of CHF 45,900,000.
Vertretene Stimmen:
Votes
 
represented:
1’085’337’932
Mehrheit:
Majority:
542’668’967
93.58 %
Ja /
Yes
1’015’665’035
Stimmen /
votes
6.10 %
Nein /
No
66’161’607
Stimmen /
votes
0.32 %
Enthaltung /
Abstention
3’511’290
Stimmen /
votes
ABB AGM 2024 Short Minutes
 
- 5/11 -
7.
 
Wahlen in den Verwaltungsrat
 
und Wahl des Präsidenten des Verwaltungsrates
7.
 
Elections to the Board of Directors and election of the Chairman
 
of the Board of Directors
Die Generalversammlung
 
wählt gemäss
 
Antrag des Verwaltungsrat
 
es folgende
 
Mitglieder in
 
den
Verwaltungsrat
 
für eine Amtsdauer bis zum
 
Abschluss der Generalversammlung 2025:
The Annual General Meeting elects
 
as proposed by the Board of Directors the following persons to the
Board of Directors for a term of office until completion of the
 
Annual General Meeting 2025:
David Constable,
 
als Mitglied / as Director
Vertretene Stimmen:
Votes
 
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
99.55 %
Ja /
Yes
1’080’411’483
Stimmen /
votes
0.29 %
Nein /
No
3’184’984
Stimmen /
votes
0.16 %
Enthaltung /
Abstention
1’739’775
Stimmen /
votes
Frederico Fleury Curado, als Mitglied / as Director
Vertretene Stimmen:
Votes
 
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
99.43 %
Ja /
Yes
1’079’083’862
Stimmen /
votes
0.41 %
Nein /
No
4’491’889
Stimmen /
votes
0.16 %
Enthaltung /
Abstention
1’760’491
Stimmen /
votes
Lars Förberg,
 
als Mitglied / as Director
Vertretene Stimmen:
Votes
 
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
98.67 %
Ja /
Yes
1’070’903’053
Stimmen /
votes
1.17 %
Nein /
No
12’716’204
Stimmen /
votes
0.16 %
Enthaltung /
Abstention
1’716’985
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 6/11 -
Johan Forssell,
 
als Mitglied / as Director
Vertretene Stimmen:
Votes
 
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
90.03 %
Ja /
Yes
977’113’121
Stimmen /
votes
9.79 %
Nein /
No
106’273’087
Stimmen /
votes
0.18 %
Enthaltung /
Abstention
1’950’034
Stimmen /
votes
Denise Johnson, als Mitglied / as Director
Vertretene Stimmen:
Votes
 
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
99.69 %
Ja /
Yes
1’081’995’120
Stimmen /
votes
0.15 %
Nein /
No
1’639’026
Stimmen /
votes
0.16 %
Enthaltung /
Abstention
1’702’096
Stimmen /
votes
Jennifer Xin-Zhe Li, als Mitglied / as Director
Vertretene Stimmen:
Votes
 
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
98.61 %
Ja /
Yes
1’070’238’168
Stimmen /
votes
1.22 %
Nein /
No
13’205’915
Stimmen /
votes
0.17 %
Enthaltung /
Abstention
1’892’159
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 7/11 -
Geraldine Matchett,
 
als Mitglied / as Director
Vertretene Stimmen:
Votes
 
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
99.66 %
Ja /
Yes
1’081’676’549
Stimmen /
votes
0.17 %
Nein /
No
1’834’723
Stimmen /
votes
0.17 %
Enthaltung /
Abstention
1’824’970
Stimmen /
votes
David Meline,
 
als Mitglied / as Director
Vertretene Stimmen:
Votes
 
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
99.61 %
Ja /
Yes
1’081’105’170
Stimmen /
votes
0.22 %
Nein /
No
2’333’975
Stimmen /
votes
0.17 %
Enthaltung /
Abstention
1’897’097
Stimmen /
votes
Mats Rahmström,
 
als Mitglied / as Director
Vertretene Stimmen:
Votes
 
represented:
1’085’336’242
Mehrheit:
Majority:
542’668’122
92.06 %
Ja /
Yes
999’193’238
Stimmen /
votes
7.75 %
Nein /
No
84’120’860
Stimmen /
votes
0.19 %
Enthaltung /
Abstention
2’022’144
Stimmen /
votes
ABB AGM 2024 Short Minutes
- 8/11 -
Peter Voser,
 
als Mitglied und Präsident / as Director and Chairman
Vertretene Stimmen:
Votes
 
represented:
1’085’335’966
Mehrheit:
Majority:
542’667’984
91.75 %
Ja /
Yes
995’852’822
Stimmen /
votes
7.71 %
Nein /
No
83’630’385
Stimmen /
votes
0.54 %
Enthaltung /
Abstention
5’852’759
Stimmen /
votes
ABB AGM 2024 Short Minutes
 
- 9/11 -
8.
 
Wahlen in den Vergütungsausschuss
8.
 
Elections to the Compensation Committee
 
Die
 
Generalversammlung
 
wählt
 
gemäss
 
Antrag
 
des
 
Verwaltungsrates
 
folgende
 
Mitglieder
 
des
Verwaltungsrates
 
in
 
den
 
Vergütungsausschuss
 
für
 
eine
 
Amtsdauer
 
bis
 
zum
 
Abschluss
 
der
Generalversammlung 2025:
The Annual General Meeting elects as
 
proposed by the Board of Directors the following members of the
Board of Directors to the Compensation Committee for a
 
term of office until completion of the
 
Annual
General Meeting 2025:
David Constable
Vertretene Stimmen:
Votes
 
represented:
1’085’333’963
Mehrheit:
Majority:
542’666’982
99.13 %
Ja /
Yes
1’075’943’553
Stimmen /
votes
0.67 %
Nein /
No
7’262’466
Stimmen /
votes
0.20 %
Enthaltung /
Abstention
2’127’944
Stimmen /
votes
Frederico Fleury Curado
Vertretene Stimmen:
Votes
 
represented:
1’085’333’963
Mehrheit:
Majority:
542’666’982
97.48 %
Ja /
Yes
1’058’023’527
Stimmen /
votes
2.32 %
Nein /
No
25’178’052
Stimmen /
votes
0.20 %
Enthaltung /
Abstention
2’132’384
Stimmen /
votes
Jennifer Xin-Zhe Li
Vertretene Stimmen:
Votes
 
represented:
1’085’333’963
Mehrheit:
Majority:
542’666’982
98.46 %
Ja /
Yes
1’068’575’371
Stimmen /
votes
1.34 %
Nein /
No
14’549’629
Stimmen /
votes
0.20 %
Enthaltung /
Abstention
2’208’963
Stimmen /
votes
ABB AGM 2024 Short Minutes
 
 
- 10/11 -
9.
 
Wahl der
 
unabhängigen Stimmrechtsvertreterin
9.
 
Election of the independent proxy
 
Die Generalversammlung wählt gemäss Antrag des Verwaltungsrat
 
es für eine Amtsdauer bis zum
Abschluss der ordentlichen Generalversammlung 2025:
The Annual General Meeting elects as
 
proposed by the Board of Directors for a term of office until
completion of the Annual General Meeting
 
2025:
Zehnder Bolliger & Partner,
 
Advokatur & Notariat, Bahnhofplatz 1, 5400 Baden,
Schweiz
als unabhängige Stimmrechtsvertreterin.
as independent proxy.
Vertretene Stimmen:
Votes
 
represented:
1’085’333’963
Mehrheit:
Majority:
542’666’982
98.15 %
Ja /
Yes
1’065’316’559
Stimmen /
votes
1.73 %
Nein /
No
18’731’277
Stimmen /
votes
0.12 %
Enthaltung /
Abstention
1’286’127
Stimmen /
votes
10.
 
Wahl der Revisionsstelle
10.
 
Election of the auditors
Die
 
Generalversammlung
 
wählt
 
gemäss
 
Antrag
 
des
 
Verwaltungsrates
 
KPMG
 
AG,
 
Zürich,
 
als
Revisionsstelle für das Geschäftsjahr 2024.
 
The Annual General Meeting elects
 
as proposed by the Board of Directors KPMG AG, Zurich, as the
auditors for financial year 2024.
 
Vertretene Stimmen:
Votes
 
represented:
1’085’331’703
Mehrheit:
Majority:
542’665’852
99.41 %
Ja /
Yes
1’078’957’998
Stimmen /
votes
0.42 %
Nein /
No
4’533’084
Stimmen /
votes
0.17 %
Enthaltung /
Abstention
1’840’621
Stimmen /
votes
ABB AGM 2024 Short Minutes
 
 
- 11/11 -
Zürich, 21. März 2024
Für das Protokoll:
For the minutes:
/s/ Peter Voser
/s/ Natalia Shehadeh
Peter Voser
Natalia Shehadeh
Präsident des Verwaltungsrates
Chairman of the Board of Directors
Leiterin der Konzernrechtsabteilung und
 
Sekretärin des Verwaltungsrates
ad interim
General Counsel and
Secretary to the Board of Directors
ad interim
ABB AGM 2024 Short Minutes
march222024p14i0
ZURICH, SWITZERLAND,
 
MARCH 2
1
, 202
4
ABB shareholders approve all
proposals at 2024 Annual General
Meeting
ABB shareholders have approved
 
all the proposals of the
 
company’s Board of Directors at its 2024
 
Annual
General Meeting, which was held
 
in Zurich, Switzerland, today. A total of 623 shareholders
 
attended the
meeting who, together with the independent
 
proxy, represented 57.7 percent of the total share capital with
 
a
right to vote.
The shareholders supported the proposed
 
distribution of an increased
 
dividend of CHF 0.87 per share.
 
The
dividend payment in Switzerland
 
is planned for March 27, 2024. The
 
shareholders also approved
 
the
management report, the consolidated
 
financial statements and the annual
 
financial statements for 2023.
Furthermore, the shareholders granted
 
discharge to the Board
 
of Directors and the persons
 
entrusted with
management for the financial
 
year 2023.
Peter Voser was confirmed as Chairman of the company’s
 
Board of Directors. Johan Forssell
 
and Mats
Rahmström were elected as new
 
members to the Board
 
while Jacob Wallenberg and Gunnar
 
Brock did not
stand for re-election as announced
 
previously. All other members of the Board were re-elected for
 
another
term: David Constable, Frederico
 
Fleury Curado, Lars Förberg, Denise
 
C. Johnson, Jennifer Xin-Zhe Li,
Geraldine Matchett and David
 
Meline.
In addition, shareholders approved
 
the maximum aggregate amount
 
of compensation of the Board
 
of
Directors for the 2024–2025 term of
 
office and of the Executive Committee
 
for the 2025 financial year. In a
non-binding consultative vote, the shareholders
 
voted in favor of the compensation
 
report and of the
sustainability report for 2023, the latter
 
submitted to a shareholders’
 
vote for the first time as required by the
revised Swiss Code of Obligations.
The final results of the Annual
 
General Meeting are available
 
on go.abb/agm. ABB will be reporting its
 
first
quarter results on April 18, 2024.
ABB
 
is a technology leader in electrification
 
and automation, enabling
 
a more sustainable and resource-
efficient future. The company’s solutions connect
 
engineering know-how
 
and software to optimize how things
are manufactured, moved, powered
 
and operated. Building
 
on over 140 years of excellence, ABB’s more
than 105,000 employees are committed
 
to driving innovations that accelerate
 
industrial transformation.
www.abb.com
For more information please
 
contact:
Media Relations
Phone: +41 43 317 71 11
Email: media.relations@ch.abb.com
Investor Relations
Phone: +41 43 317 71 11
Email: investor.relations@ch.abb.com
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
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march222024p14i0
ZURICH, SWITZERLAND,
 
MARCH 2
1
, 202
4
ABB plans to launch new share
buyback of up to $1 billion following
completion of 2023-2024 program
ABB has completed its share buyback
 
program that was launched
 
in April 2023. Through this buyback
program, ABB repurchased a total
 
of 21,387,687 shares – equivalent
 
to 1.09 percent of its issued share
capital at launch of the buyback program
 
– for a total amount of approximately
 
$0.83 billion over the past
12 months.
ABB’s Board of Directors intends to use
 
the capital band approved
 
at the 2023 Annual General Meeting to
cancel all shares repurchased
 
under the 2023–2024 share buyback
 
program.
Consistent with ABB’s capital allocation
 
principles, the Board of Directors
 
today approved a new share
buyback program for capital reduction
 
purposes of up to $1 billion.
 
The new program is expected to be
launched in early April 2024.
 
It will be executed on a second trading
 
line on the SIX Swiss Exchange
 
and is
planned to run until January 31, 2025.
 
The company has decided
 
to adjust the timing of its share buyback
cycle to align with the announcement
 
of its Q4 2024 results and 2024
 
dividend proposal.
ABB intends to also use the capital
 
band for the cancellation
 
of the shares repurchased under
 
this new
program.
In addition, ABB intends to purchase up
 
to 10 million shares by the end of
 
January 2025 mainly for use in
connection with its employee share
 
plans. The purchases
 
will be made at the market price
 
on the ordinary
trading line on the SIX Swiss Exchange.
ABB currently owns approximately
 
47 million treasury shares,
 
including 21 million
 
shares repurchased for
cancellation purposes.
ABB
 
is a technology leader in electrification
 
and automation, enabling
 
a more sustainable and resource-
efficient future. The company’s solutions connect
 
engineering know-how
 
and software to optimize how
things are manufactured, moved, powered
 
and operated. Building
 
on over 140 years of excellence, ABB’s
more than 105,000 employees are
 
committed to driving innovations
 
that accelerate industrial
transformation. www.abb.com
Important notice about
 
forward-looking information
This press release includes
 
forward-looking information
 
and statements concerning
 
the share buyback program.
 
These
statements are based on
 
current expectations,
 
estimates and projections
 
about the factors
 
that may affect our future
performance, and are generally
 
identifiable by statements
 
containing words such
 
as “intends”, “expects,”
 
“plans”, or
similar expressions. However, there
 
are many risks and
 
uncertainties, many of
 
which are beyond
 
our control, that could
affect our ability to achieve
 
any or all of our stated
 
targets. Factors that
 
could cause such differences
 
include, among
others, business risks associated
 
with the volatile
 
global economic environment
 
and political conditions,
 
changes in
 
1/2
governmental regulations
 
and currency exchange
 
rates and such other
 
factors as may be discussed
 
from time to time
in ABB Ltd’s filings with
 
the U.S. Securities and
 
Exchange Commission,
 
including its Annual Reports
 
on Form 20-F.
Although ABB Ltd believes
 
that its expectations
 
reflected in any such
 
forward-looking statement
 
are based upon
reasonable assumptions,
 
it can give no assurance
 
that those expectations
 
will be achieved.
For more information please
 
contact:
Media Relations
Phone: +41 43 317 71 11
Email: media.relations@ch.abb.com
Investor Relations
Phone: +41 43 317 71 11
Email: investor.relations@ch.abb.com
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
ABB PLANS TO LAUNCH
 
NEW SHARE BUYBACK
 
OF UP TO $1 BILLION FOLLOWING
 
COMPLETION OF
2023-2024
 
PROGRAM
2/2
 
 
SIGNATURES
Pursuant to the requirements of the Securities
 
Exchange Act of 1934, the registrant
 
has duly caused this report to be signed
 
on its
behalf by the undersigned, thereunto duly
 
authorized.
ABB LTD
Date: March 22, 2024.
By:
/s/ Ann-Sofie Nordh
Name:
Ann-Sofie Nordh
Title:
Group Senior Vice President and
 
Head of Investor Relations
Date: March 22, 2024.
By:
/s/ Richard A. Brown
Name:
Richard A. Brown
Title:
Group Senior Vice President and
Chief Counsel Corporate & Finance
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