Electrolux North America has a new, permanent chief executive in longtime industry veteran Alan Shaw.
He fills a role left vacant by the departure in April of Jack Truong, and honchoed on an interim basis by outgoing corporate president/CEO Keith McLoughlin, who retires tomorrow.
For the past two years Shaw served as president of Electrolux’s outdoor power products business, Husqvarna, in the Western Hemisphere.
Before that he was president/CEO of outdoor grill concern Char-Broil (2005 to 2013); held the same post at outdoor power equipment company Murray Group (2003 to 2005); and spent 16 years in various mid- to senior management posts at Whirlpool.
At the same time, Electrolux promoted senior VP Dan Arler to head major appliances in Europe, the Middle East and Africa. He succeeds Jonas Samuelson, who was tapped to take over from McLoughlin effective next Monday.
Amid the senior management shuffle, Electrolux reported a SEK 202 million operating loss for its fourth quarter ended Dec. 31, 2015, compared with a year-ago operating profit of SEK 1.4 billion, due largely to SEK 1.7 billion in costs associated with the failed acquisition of GE Appliances.
Net sales rose 1.3 percent to SEK 31.8 billion.
In North America, net sales rose 16.7 percent, to SEK 10.4 billion, and operating income soared 268 percent, to SEK 493 million, due to higher unit volume, a greater mix of pricier products, and a return to profitability in refrigeration following stepped-up investments to meet higher Energy Department requirements.
In his final quarterly comments as CEO, McLoughlin noted the company’s rebound in North America amid strong year-end volume growth in the U.S., and projected a solid 3 to 4 percent increase in domestic demand in 2016.
He also expressed disappointment in being outbid for GE by Haier. The deal would have given Electrolux worldwide parity with Whirlpool and been a fitting cap on a distinguished career, although he said the company has the capabilities to continue growing as a leading global appliance manufacturer.
“It is now time for me to pass the baton to my successor … and return to my family in the U.S.,” the Long Island, N.Y., native said.
