#Power Grids division

Cevian Capital, an activist hedge fund and the second largest shareholder of ABB, continues to push for a split of the engineering giant, according to Swedish media.

ABB has announced major reorganization of the company business into four divisions, with its entire power business grouped into a new Power Grids division. While the new strategy sets lower targets and implies further job cuts, the new management comes under pressure from shareholders to meet the set expectations.