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Electrolux Names New Floor Care Chief

10/07/2004 01:40:00 PM Eastern

Bloomington, Ill. — Electrolux has appointed its third floor-care CEO in 10 months.

John Case, formerly president of La-Z-Boy’s upholstery operations, was tapped to succeed Marty Holleran, the former GE and Thomson CE executive who assumed the post last January.

Holleran in turn succeeded Dan Clifford, who left the North American division after two years, following a sweeping overhaul of its product line, personnel and marketing strategy.

In making the announcement, Magnus Yngen, executive/VP of AB Electrolux and head of floor-care products and small appliances, said, “John is a pragmatic visionary with an impressive track record for managing and driving change in an evolving environment. He is a hands-on leader who no doubt will have a tremendous impact on our North American floor-care business. We look forward to his contributions and are confident his leadership will help us achieve our goals.”

The company has experienced increased dollar volume in floor-care products this year, but notched substantial declines in operating income and margin as a result of downward pressure on prices, an unfavorable product mix and higher costs for marketing and brand building.