Truong Resigns From Electrolux

McLoughlin acting as interim head
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McLoughlin acting as interim head
Jack Truong

Stockholm, Sweden — Jack Truong has resigned as head of major appliances North America and executive VP of AB Electrolux in order to pursue other interests, the majap maker announced.

Electrolux president/CEO Keith McLoughlin will act as interim head of major appliances North America while the company seeks a successor.

Elecrolux, which is on track to acquire GE Appliances this year for $3.5 billion (initially estimated at $3.3 billion), revised downward its quarterly anticipated results. It noted in a statement: “Electrolux operations continue to be negatively impacted by the transition of the product ranges within refrigeration and freezers. This transition is a consequence of the new energy requirements imposed during the second half of 2014. Earnings are also affected by the ramp up of the cooking plant in Memphis, which has been slower than anticipated. Results for the business area in the first quarter 2015 will therefore be negative.”


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