0GQ1 Electrolux Ab

STOCKHOLM, April 25, 2024 /PRNewswire/ -- After more than eight years as CEO and 16 years in the Group management team, Electrolux Group President & CEO Jonas Samuelson has today informed the Board of Directors that he will leave his position and the Board on January 1, 2025. The Board will now initiate a recruitment process for a successor. 

"I have had the privilege to serve for what will become nine years as President & CEO, so I felt that early next year is a good time to hand over to a successor who can put all energy into leading this great company into the next phase during the coming years", said Jonas Samuelson. "We have set a clear strategic direction with focus on the mid- and premium segments through our premium brands, new modularized product architectures, and sustainable, consumer experience driven innovation. The implementation of the new simplified and focused organization is on track, and we are delivering on our ambitious cost reduction objectives."

"By announcing this already now I want to give the Board ample time to find the right successor, while I continue to give my full dedication to the company during the rest of the year", continued Jonas Samuelson. "I currently have no plan to take on any other operational role after leaving the Group and will be available to support the company and my successor also after January 1, 2025."

"The Board and I fully respect and understand Jonas' decision to leave his position as of January 1, 2025, after having led the Group successfully during many years", said Torbjörn Lööf, Chairman of the Board of Directors. "The early announcement gives the Board sufficient time to perform a thorough recruitment process to find a successor. In the meantime I look forward to working with Jonas, his management team, and the Board to deliver our objectives for 2024."

Electrolux will as planned publish its results for the first quarter tomorrow April 26, 2024, at approximately 08.00 CET. A telephone conference will be held following the release of the results, starting at 09.00 CET. Questions related to this announcement will be addressed during and following the telephone conference.

This is information that AB Electrolux is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 25-04-2024 19:40 CET.

For more information:

Paul Palmstedt, Electrolux Group Press Hotline, +46 8 657 65 07

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SOURCE Electrolux Group