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.