Jürgen Dormann

DEFINITION of 'Jürgen Dormann'

A former chairman and CEO of Zurich-based engineering company ABB. When Dormann took over ABB in 2001, it was suffering from asbestos lawsuits and an economic downturn, which had put it deeply in debt. However, by the first quarter of 2004 the company was showing signs of turning itself around. Dormann retired from ABB in 2007, and a company-sponsored foundation named after him offers scholarships to electrical engineering students.

BREAKING DOWN 'Jürgen Dormann'

Born in Germany in 1940, Dormann earned his master's degree in economics from the University of Heidelberg in 1963, then joined chemical manufacturer Hoechst in 1963, where he worked his way up to chairman and CEO by 1994. He has also served as non-executive director of BG Group, board member of IBM, chairman of Metall Zug, chairman of Sulzer limited and chairman of Adecco.