By Maria Armental
ABB Ltd.'s (ABB) former top executive will take over Align
Technology Inc.'s (ALGN) reins in June, following the retirement of
its longtime chief executive.
Joseph M. Hogan, 57 years old, left the Swiss
electrical-engineering firm in 2013 for what company officials said
at the time were "private reasons."
He replaces Thomas M. Prescott, who had served as president,
chief executive and director since 2002 and oversaw a broad
expansion at the company. He will remain on the board.
During Mr. Prescott's time as CEO, Align, known for its
Invisalign teeth-straightening system, went from a loss of $1.52 a
share to a profit of $1.77 a share while revenue surged from $69.7
million to $761.7 million, the company said.
Mr. Hogan will be paid $950,000 in annual base salary along with
a signing bonus of $1.5 million.
Write to Maria Armental at maria.armental@wsj.com
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