CARY, N.C, June 13, 2012 /PRNewswire/ -- Gary Steel, head of human resources at ABB (NYSE: ABB), the leading power and automation technology group, has received a lifetime award from the University of Michigan and US consulting company Linkage in recognition of his work to integrate human resources in the company's global business strategy.
"Gary Steel is receiving recognition for the tremendous impact he has had over the course of an outstanding career in HR. Gary sees issues of talent and leadership through the eyes of a global business leader. He has had tremendous impact on both business results and the lives of people around the globe," said Noel Tichy, Professor of Management & Organizations, Ross School of Business, University of Michigan.
"ABB is a technology business with high ambitions," said Joe Hogan, ABB's chief executive. "Our success depends on attracting, inspiring and empowering the right people, and our human resources strategy has been tailored to achieving these goals. Gary deserves the recognition."
ABB's people strategy underpins the company's goals for the years 2011-2015. During this period ABB is aiming to increase revenue at twice the pace of global economic growth, a target supported by a strategy for the development, retention and recruitment of talent.
Gary Steel joined ABB in January 2003 from Royal Dutch Shell as member of the Group executive Committee for Human Resources and Sustainability. He also serves as Chairman on the Boards of ABB India and Sweden.
Steel has been instrumental in the company's profitable growth over the last nine years. He has established a performance-focused global human resources organization that puts a culture of accountability, people development and professional processes at its core. ABB generated net income of $3.2 billion in 2011 compared with a net loss in 2002, and revenues more than doubled in the period.
ABB enjoys one of the best retention rates in the industry and has been voted employer of choice for engineering students several times in Switzerland and Sweden. In China, ABB is recognized as one of the leading employers in its sector.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people.