Business

Electrolux says Swedish report of CEO stepping down is inaccurate

dhinshaw@charlotteobserver.com

A Swedish newspaper report that Electrolux AB CEO Keith McLoughlin plans to leave the company is inaccurate, the company says.

The newspaper, Dagens Industri, did not say how it got the information. The Swedish report, which was cited by Bloomberg, said Electrolux is now searching for a replacement for McLoughlin, who the paper said is leaving for personal reasons.

An Electrolux representative told the Observer late Wednesday that McLoughlin has not stepped down as CEO. McLoughlin became CEO of Electrolux in early 2011, replacing Hans Straaberg.

“All well-run public companies conduct succession planning,” the company said in a statement. “We are searching for a new head of our major appliances sector in North America, as previously communicated on April 8 this year. Keith McLoughlin currently holds interim dual responsibility for both the global business and the North American operations.”

Electrolux has its North American headquarters in Charlotte, where the company employs about 900 people.

Jack Truong, Electrolux North America’s former CEO who was based in Charlotte, resigned in April. McLoughlin has since been acting as interim head of the North American unit, in addition to his global CEO post.

Bloomberg News and Observer Staff Writer Ely Portillo contributed

  Comments