Struggling global appliance Company Electrolux has appointed a new CEO following the decision of current CEO Jonas Samuelson to exit the Swedish Company.
Yannick Fierling will take over as the new CEO, he was previously head of Haier Europe who resigned from Haier the same month that Samuelson decided to leave Electrolux.
Fierling joined Haier in 2015 and successfully led the organization for the last nine years.
In that period, they were able to take share away from multiple European appliance manufacturers.
Struggling for a long period Electrolux was able to swing back to a profit in the last quarter.
Yannick Fierling (Seen above) starts at Electrolux Group on October 1 and will take on the formal role as President and CEO on January 1, 2025.
Torbjörn Lööf, Chairman of Electrolux Board of Directors said, “Yannick is a very experienced leader with a solid background in the appliance industry,”.
“In his latest assignment, he successfully led Haier’s development in Europe. His visionary leadership in developing business and people, together with a strong emphasis on entrepreneurship and a sense of urgency approach, will be very valuable on our journey making Electrolux Group an even stronger global player in the appliance industry.”
“The Board wants to reinforce and accelerate the strengths of Electrolux Group by bringing in new perspectives. We are convinced that Yannick has the right background, insights, and experience, as well as the drive and determination to take the company forward.”
“I am grateful for the confidence of the Board and feel very excited about this opportunity,” says Yannick Fierling.
“Having spent many years in the household appliances industry, it is hard to find a more energizing and inspiring role. I am really looking forward to engaging with the Electrolux Group team and in developing and positioning the Group in the years to come.”.
Yannick Fierling is 53 years old and a French citizen. He will be based in Stockholm. He holds two master’s degrees in mechanical engineering from France and the United States.
Recently Electrolux cut its demand outlook for Europe and Asia-Pacific as high inflation continues to hold back consumer spending on big-ticket items.
“The board wants to reinforce and accelerate the strengths of Electrolux Group by bringing in new perspectives,” Chairman Torbjorn Loof said in a statement. “We are convinced that Yannick has the right background, insights and experience, as well as the drive and determination to take the company forward.”
Locally Electrolux Australia CEO Kurt Hegold said “From an ANZ perspective, we’re enormously grateful to Jonas for the support he has provided to our market and his leadership through his nearly nine years in the role. With our eyes on a future filled with opportunities, I welcome the insights and extensive experience Yannick brings with him, gained from more than 20 years in the household appliance industry, most recently as CEO Europe for Haier Corporation.
Once Yannick has settled into his new role, the Australian and New Zealand teams are looking forward to welcoming him to our market and providing an opportunity to introduce him to our employees and customers”.
