Electrolux has announced a major global restructure that will see Asia Pacific become a standalone region for the first time, sparking speculation that current CEO of Electrolux APAC, Kurt Hevgold (pictured left), is a frontrunner to lead the newly created division.

Global CEO Yannick Fierling, who recently visited Australia, was reportedly impressed with the company’s local operations. In an exclusive interview with ChannelNews, Fierling hinted that a significant shake-up was underway, aimed at delivering “the right products” to each market while increasing investment in research and development.

The restructure confirmed overnight is the first major change under Fierling, who took over the top job earlier this year. It follows the earlier wind-down of Electrolux’s Singapore offices, a move first revealed by ChannelNews.

Under the new structure, Electrolux will replace its previous ‘Business Areas’ with ‘Regions’, a change designed to simplify operations and sharpen regional accountability.

The former Europe, Asia-Pacific, Middle East & Africa (BA EA) division will be split into two separate regions: EMEA and Asia-Pacific (APAC).

Effective January 1, the new structure will also see several leadership changes across global markets:

  • Patrick Minogue will become Head of Region North America, replacing Ricardo Cons, who is retiring.

  • Leandro Jasiocha, currently Head of Business Area Latin America, has been appointed Head of Region EMEA, succeeding Anna Ohlsson-Leijon, who is leaving the company.

  • Eduardo Mello, previously Head of Global Food Preservation and former Commercial VP for Latin America, will take over as Head of Region Latin America.

Electrolux said the APAC region will focus primarily on commercial activities and product lines, while other regions will also oversee manufacturing operations. The company has not yet confirmed who will lead the new Asia-Pacific region.

“I want to thank Anna for her dedication and strategic vision, which have guided Electrolux through pivotal moments,” said Fierling. “I also congratulate Leandro and Eduardo on their new roles as we continue to strengthen our regional focus.”

The restructure comes as Electrolux posts a strong rebound in its financial results.

The company’s third-quarter profit more than doubled, lifted by a recovery in its North American business and improved cost control amid ongoing US tariff pressures.

Operating profit rose to 890 million Swedish crowns (A$144 million) from 349 million a year earlier, on 5% organic sales growth, driven by double-digit gains in North America. Analysts had expected 875 million crowns.

The North American division, which last year represented about one-third of group sales, swung from a 249 million-crown loss to a 25 million-crown profit. Shares surged 15%, their biggest daily rise since April 2023, though still down 28% year to date.

Analysts at J.P. Morgan noted that while North American profit came in below expectations, overall results showed “sequential improvement” and reinforced confidence in the company’s turnaround strategy.

Fierling said the company managed to offset most of the cost increases tied to US tariffs despite a “pressured pricing environment.”

Electrolux remains cautious about global demand, maintaining a neutral outlook for Europe, Asia-Pacific, and Latin America, and a neutral to negative outlook for North America.