• Sweden's news in English
 
app_header_v3
Sweden's Electrolux gets new CEO after boss quits
Electrolux workers at a factory in Memphis in the US. Photo: Adrian Sainz/AP/TT

Sweden's Electrolux gets new CEO after boss quits

TT/The Local · 11 Jan 2016, 08:33

Published: 11 Jan 2016 08:33 GMT+01:00

Keith McLoughlin said on Monday that he was going to retire from leading one of Sweden's largest businesses, while the company's board has appointed Jonas Samuelson to replace him next month.

"It is now time for me to pass the baton and return to my family in the US," McLoughlin announced in a press statement.

"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," he added, describing his replacement as a "well prepared internal successor".

Samuelson is currently head of the business area Electrolux Major Appliances Europe, Middle East and Africa and joined the firm in 2008.

McLoughlin, 59, who has been CEO of the Swedish industry leader since 2011, has been living apart from his family since in 2012. He denied rumours circulating last summer that he was planning to move home.

Story continues below…

The shift in management comes following a troublesome few months for the global company which is world's second-largest home appliance maker and sells brands including Frigidaire, AEG and Zanussi as well as its own name. In December it announced that a $3.3 billion deal with US electrics giant GE had run into trouble.

The company said soon afterwards that job cuts would be made at the Swedish firm's headquarters in Stockholm in order to absorb the costs of the failed deal.

For more news from Sweden, join us on Facebook and Twitter.

TT/The Local (news@thelocal.se)

Today's headlines
No arrests after boy's death in Gothenburg grenade attack
The scene at the apartment in Biskopsgården two days after the attack.Photo: Adam Ihse/TT

As the funeral takes place of an eight-year-old boy killed in a Gothenburg grenade attack, police have yet to make any arrests in the case.

'Unfriendly' Swedes give expats the cold shoulder
Is it difficult to make friends with Scandinavians? Photo: Berit Roald/NTB scanpix/TT

Sweden is among the most difficult countries for foreigners to feel at home in, according to a new survey.

Is this the most Swedish wedding cake ever?
A chocolate ball enters a mouth. Photo: Johan Nilsson/TT

That's a lot of balls!

Sweden's most beautiful places revealed
West-coast serenity in Onsala, Halland. Photo: Mikael Tigerström

Is the west coast the best coast?

Swedish woman bumps into bear near pub
This is not the bear Valeria Möller met in Skellefteå. Photo: Bernard Boehne

If you go down to the pub tonight...

Stockholm school segregates boys and girls in gym class
A gym class for first-graders. Photo: Anders Wiklund/TT

"Some of our girls want to be able to take off their veils and wear shorts and T-shirts in their classes," a teacher explained.

This Brit moved to Sweden and opened his dream café
Härnösand café owner Shaun Corby. Photo: Johanna Corby

Shaun Corby tells The Local how following his Swedish wife to Härnösand turned out to be the best move he ever made.

Missing Swedish billionaire found dead
In the early 1980s, Ericsson was known as the ’Golden boy’ of the west coast. Photo: Leif R Jansson/TT

Swedish entrepreneur and billionaire Christer Ericsson, who went missing during a fishing trip two months ago, has been found dead on the west coast.

Sweden Democrats try to woo pensioners
The party says the minimum pension ought to be raised by 10 percent. Photo: Emil Langvad/TT

Sweden’s far-right party on Saturday vowed to fight for the elderly, saying it will only support a government that is prepared to significantly hike pensions for those who struggle financially.

Swedish hikers found after missing for six days
The only trace is currently a mobile phone found in the area and which is believed to belong to one of the men. Photo: Henrik Montgomery /TT

Swedish police on Saturday found two elderly hikers who went missing in the Abisko mountain range six days ago.

Sponsored Article
Malmö to host global skateboard championship
Gallery
People-watching: August 26th-28th
Sponsored Article
Life in Jordan: 'Undiscovered treasure'
Travel
What are Sherpas doing on Sweden's highest mountain?
Gallery
People-watching: August 24th
Blog updates

23 August

A Summer in Sweden (The Diplomatic Dispatch) »

"For our first year here in Sweden we decided to have all our holidays in Sweden.…" READ »

 

22 July

After the horror, carry on regardless (Globally Local) »

"This time last week, we were just digesting the horror of the Nice killings, in which…" READ »

 
 
 
Sponsored Article
The mystique of Asia - in the middle of Stockholm
The Local Voices
'I want to be a businesswoman but I don’t care about money'
Sponsored Article
Why you should learn to trade (and just how easy it is)
National
Experts: Gothenburg grenade blast is 'part of a cycle of violence'
Gallery
Property of the week: Karlsborg
National
Why Sweden could change its criticised detention laws
Sponsored Article
6 reasons expats use TransferWise to send money
National
Watch this dog's reaction when she tries Swedish fermented herring
Gallery
People-watching: August 19th-21st
National
How to find student housing in Sweden
Sponsored Article
6 simple travel hacks that will make your life easier
National
VIDEO: Swede films first Northern Lights of the season
Sponsored Article
Why expats choose international health insurance
Gallery
People-watching: August 17th
Society
Swedish population nears ten million
Sponsored Article
Five easy ways to travel more often
The Local Voices
This Syrian artist found love in a Swedish library
Sponsored Article
Why you should attend an international job fair
National
Sex pigs halt traffic after laser attack on Pokémon teens. Only in Sweden.
Sponsored Article
Five things Americans should know about voting abroad
Gallery
Property of the week: Hammarby Sjöstad, Stockholm
Society
Drunk knight detained in Stockholm
Sponsored Article
Jordan: where history meets adventure
National
Can you solve this Swede's strange Star Wars mystery?
Sponsored Article
Life in Jordan: 'Undiscovered treasure'
Gallery
People-watching: August 12th-14th
Sponsored Article
Jordan Pass: your ticket to the experience of a lifetime
National
Swedes cheer first snow of the season
Sponsored Article
Why Jordan is the ‘Different’ East
Gallery
People-watching: August 10th
Sponsored Article
6 simple travel hacks that will make your life easier
The Local Voices
Syrian presenter: Swedish media should make more shows in Arabic
Travel
Watch the meteor shower in Sweden
The Local Voices
Gabriel mastered Swedish and got accepted onto a medicine degree in just 7 months
3,335
jobs available