Swedish electronics group Electrolux has appointed Ronnie Leten as its new chairman of the board, where he previously held the position of deputy chairman. He will replace Marcus Wallenberg, who will step down on 1 July 2014.
Manager of the year heads to Sweden
The economist has also been Swedish Atlas Copco’s CEO since the middle of 2009, where he previously led its Compressor Technique branch out of its main office in Wilrijk (Belgium). Before he joined Atlas Copco, he had worked for Tenneco and General Biscuits, but it is in his position at Atlas Copco that he won Manager of the Year 2013, handed out by magazine Trends.
He has been an Electrolux director and deputy chairman since 2012, but will now become its chairman, taking over from Marcus Wallenberg. He had to resign because of EU regulation which limits the number of mandates someone can have. Leten’s appointment still has to be confirmed formally at the general meeting of shareholders on 26 March.
Electrolux employs 61,000 people worldwide, with a 2013 turnover of 109 billion krona (some 12.2 billion euro).