Jonas Samuelson will become the new CEO of Swedish home appliance maker Electrolux who will replace Keith McLoughlin. Swedish home appliance maker Electrolux said its CEO, Keith McLoughlin, would retire and be replaced by Senior Executive Jonas Samuelson, just a month after the biggest deal in the company’s history collapsed.
January 2016, Business
Mr. McLoughlin will hand over on February 1 to Mr. Samuelson, Head of Electrolux’s Major Appliances Europe, Middle East and Africa (EMEA) division. Mr. Samuelson, 47, was previously Chief Financial Officer of the firm, which he joined in 2008.
The change comes just a month after General Electric walked away from a $3.3 billion agreement to sell its appliances business to Electrolux in the face of opposition from U.S. antitrust regulators, forcing Electrolux to pay a $175 million termination fee.