ZURICH (Reuters) - ABB's ABBN.S largest shareholder Investor AB INVEb.ST is pleased with the appointment of Bjorn Rosengren as the new chief executive of the engineering group, the Swedish investment company said on Monday.

“We welcome the appointment of Bjorn Rosengren, who we believe is the right person to lead ABB during the next phase of its journey,” said Johan Forssell, CEO of Investor which holds an 11.2% stake in ABB.

“From his previous leading roles in several companies, he has a proven track record in driving a decentralized culture, improving performance and delivering value.”