Electrolux CEO resigns | RetailDetail

Electrolux CEO resigns

Electrolux CEO resigns

Electrolux CEO, Keith McLoughlin, has decided to leave the company after the deal with American General Electric fell through. The American antitrust authority had blocked the deal.

Jonas Samuelson to succeed

Jonas Samuelson, currently head of "major appliance operations" in Europe, the Middle East and Africa, will succeed Keith McLoughlin. He has been with Electrolux since 2008 and has already taken up several important positions within the company, like that of Chief Financial Officer. McLoughlin states he will continue to advise the company, mainly when it comes to the North American market.

 

In 2014, Electrolux announced it would acquire General Electric's household appliances division for 3.3 billion dollars (3 billion euro), but the deal fell through after the American antitrust authority felt Electrolux would become too dominant in the North American market. General Electric then decided to pull the plug towards the end of 2015, which cost Electrolux a sizeable amount of money.

Questions or comments? Please feel free to contact the editors


Fnac Darty and MediaMarkt Saturn enter purchase alliance

16/05/2018

French electronics retailer Fnac Darty has set up a purchase alliance with competitor MediaMarkt Saturn. Both companies will buy together when it comes to the European retail market.

Amazon looking to outbid Walmart in Flipkart deal

03/05/2018

The battle for dominance on the Indian e-commerce market seems to be stepping up a notch: Amazon may be looking to buy a majority stake in Flipkart, trying to better Walmart which already started negociations with the Indian online retailer.

Amazon is working on domestic robot

24/04/2018

Amazon is secretly working on robots for consumers. According to press agency Bloomberg, the tech giant wants to trial the robots at their employees’ homes and wants to present its domestic robots in 2019.

Fnac Darty continues growth thanks to collaborations

23/04/2018

Electronics group Fnac Darty has achieved a small turnover growth in the first quarter of 2018. The group also says it took major steps in its recovery plan: before the end of 2018, it seeks 130 million euro in synergies.

‘Schnäppcam’ lures customers back to the store

16/04/2018

It seems a lost fight to compete with web shops, but not every retailer is simply throwing in the towel. A German household appliance seller has found an original way to entice customers.

Media Saturn launches first checkout-free store in Austria

12/03/2018

Saturn has opened Europe’s first checkout-free electronics store in Austria. The former Metro Group chain offers its customers traditional sales assistance, but payments have to happen using an app.