Sweden’s Electrolux CEO to step down

Swedish home appliances maker Electrolux said Monday its chief executive Keith McLoughlin would retire from the company and be replaced by a business area chief from Feb. 1.

McLoughlin, an American who took the helm at Electrolux five years ago, said in a statement he would return to his family in the United States.

His successor, Jonas Samuelson, is head of business area Major Appliances Europe, Middle East and Africa and has also been CFO of the firm.

Source: Reuters