Electrolux chief executive retires

Electrolux chief executive and president Keith McLoughlin will retire from his position and will be succeeded by Jonas Samuelson on February 1.

Mr Samuelson is currently the head of Electrolux major appliances Europe, Middle East and Africa. Previously, he was the head of its global operations.

In a statement, Mr McLoughlin (pictured) said: “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. 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 US.”

Ronnie Leten, chairman of the board of directors of Electrolux, said: ”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.

Jonas Samuelson
Jonas Samuelson

“The board is pleased that Jonas Samuelson will take on the role as president and CEO for the Group. 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.”

Last month, Electrolux’s acquisition of appliance business General Electric fell through, which cost the Swedish manufacturer $175 million (£121m) in termination fees.

Mr McLoughlin will continue to support Electrolux in the North American market on a consultancy basis.