Electrolux president and CEO Keith McLoughlin has announced his retirement from the company. The company’s board of directors has named Jonas Samuelson as Electrolux’s new president and CEO as of February 1, 2016.
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. He joined Electrolux in 2008. McLoughlin will continue to support Electrolux in the North American market on a consultancy basis.
“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,” said McLoughlin.
Ronnie Leten, chairman of the company’s board of directors, 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.”
McLoughlin’s retirement follows Electrolux’s failed efforts to buy General Electric’s household goods business. The $3.3 billion deal was opposed by the United States Justice Department, which claimed the combined company would be dominant in the U.S. cooking appliance segment. GE announced December 7 that it was abandoning the deal because of government opposition.