STOCKHOLM, SWEDEN —
Keith
McLoughlin will succeed Hans Straberg
as president/CEO of Electrolux, effective
Jan. 1.
McLoughlin joined Electrolux from Du-
Pont in 2003 as president/CEO of the
North America division and last year was
promoted to COO of the company, with
responsibility for global R&D, manufacturing
and purchasing.
Straberg said he
decided to leave after
27 years “to do
something new.” During
his nine years as
chief executive, he
doubled the company’s
market value and
led its transformation
from a manufacturing-
driven to a consumer-
driven business
by investing in
innovative products,
strong brands, and cost-efficient production
that helped a achieve a targeted
6 percent operating margin over the last
four quarters.
In a statement, chairman Marcus Wallenberg
said “I’ll be sorry to see him
go,” but said the board is pleased that
McLoughlin “will take the baton.”
A graduate of the United States Military
Academy at West Point with a Bachelor
of Science in engineering, McLoughlin
also ran the company’s Latin America
majap unit between 2004 and 2007, and
is credited with reviving the North America
division.
