Keith McLoughlin to Retire from Electrolux and Will Be Succeeded by Jonas Samuelson as President and CEO
By Business Wire News
By Business Wire News
Keith McLoughlin has notified the Board of Directors of Electrolux (STO:ELUXA) (STO:ELUXB) that he wishes to retire from Electrolux. The Board has appointed Jonas Samuelson as new President and CEO of Electrolux as of February 1, 2016.
Mr. Samuelson is currently head of the business area Electrolux Major Appliances Europe, Middle East and Africa. He has previously been the head of Electrolux Global Operations and prior also held the role as Group Chief Financial Officer. Jonas Samuelson joined Electrolux in 2008.
“With the dedication of the entire Electrolux team, we have strengthened this great company by substantially increasing our investments in consumer-led innovation, focusing on profitable growth areas and leveraging the scale of the company through global integration,” says Keith McLoughlin, President and CEO of Electrolux. “With this strong foundation in place, and having a well prepared internal successor in Jonas, it is now time for me to pass the baton and return to my family in the U.S.”
Ronnie Leten, Chairman of the Board of Directors of Electrolux says ”Keith has made significant contributions strengthening the company during his time as CEO. Under his leadership, Electrolux has successfully enhanced its position as an innovative, globally integrated company, while strengthening its balance sheet. His personal integrity, commitment and loyalty to this company have been well appreciated. I enjoy our relationship and I am looking forward to continuing it.”
“The Board is pleased that Jonas Samuelson will take on the role as President and CEO for the Group,” continues Mr. Leten. “His focus will be to continue executing the Electrolux strategy of becoming a truly consumer driven company leveraging our global scale. With his background and proven results, I am certain he is the right next leader for Electrolux.”
Keith McLoughlin will continue to support Electrolux in the North American market on consultancy basis.
Media conference today
The media conference will begin at 9.30 am CET on Monday, January 11. The conference will be led by Ronne Leten, Chairman of the Board of Directors of Electrolux accompanied by Keith McLoughlin and Jonas Samuelson.
Details for the call are as follows:
Participants in Sweden should call +46(0)8 5033 6539
Participants in the UK/Europe should call +44(0)20 3427 1903
Participants in the U.S. should call +1212 444 0412
Conference code: 7325254
Electrolux discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.00 CET on January 11, 2016.
Electrolux is a global leader in home appliances, based on deep consumer insight and developed in close collaboration with professional users. We offer thoughtfully designed, innovative solutions for households and businesses, with products such as refrigerators, dishwashers, washing machines, cookers, vacuum cleaners, air conditioners and small domestic appliances. Under esteemed brands including Electrolux, AEG, Zanussi, Frigidaire and Electrolux Grand Cuisine, the Group sells more than 50 million products to customers in more than 150 markets every year. In 2014, Electrolux had sales of SEK 112 billion and 60,000 employees. For more information go to www.electroluxgroup.com.
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