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Electrolux CEO Keith McLoughlin To Retire This Month

Keith McLoughlin, who has led Electrolux as president/CEO since 2010, will retire at month’s end following weeks of speculation and denials.

He will be succeeded on Feb. 1 by Jonas Samuelson, who currently heads the company’s appliance operations in Europe, Middle East and Africa. Samuelson previously ran global operations and served as group chief financial officer after joining the business in 2008.

Electrolux chairman Ronnie Leten credited McLoughlin with “significant contributions” that strengthened the world’s No. 2 majap maker and “enhanced its position as an innovative, globally integrated company, while strengthening its balance sheet.”

A Long Island native and West Point graduate with a B.S. in engineering, McLoughlin joined Electrolux from DuPont in 2003 as president/CEO of is North American division, where he built Electrolux into a premium majap brand while maintaining its core Frigidaire business.

He was promoted to COO in 2009 and president/CEO in 2010. In the last year of his tenure McLoughlin made a $3.3 billion bid for GE Appliances, which would have given Electrolux near global parity with No. 1 majap maker Whirlpool and would have been a fitting cap on a distinguished career. But the deal was ultimately dashed in December by Justice Department opposition.

McLoughlin will stay on as a consultant for Electrolux North America, where he has also served as interim president/CEO following the departure of division head Jack Truong in April.