Electrolux CEO resigns, vice president takes over

By 2010-09-23T08:32:55Z STOCKHOLM (AP) -- Swedish appliance maker Electrolux AB says its president and chief executive Hans Straberg has resigned and will be replaced by Vice President Keith McLoughlin....

Swedish home-appliance maker Electrolux said Keith McLoughlin will succeed CEO Hans Straberg, who plans to leave the company.

Swedish appliance maker Electrolux on Tuesday topped analyst profit forecasts for the first quarter of 2010 and said it was upbeat for this year as its main markets recovered.The world's second biggest white goods maker behind Whirlpool of the US, Electrolux said its net profit for the January-March period was 911 million Swedish Kronor (95 million euros, 127 million dollars), more than reversing a year-earlier loss of 346 million kronor.Analysts surveyed by Dow Jones Newswires had expected a net profit of 609 million kronor.

STOCKHOLM (AP) -- Swedish appliance maker Electrolux AB saw its profits plunge in the fourth quarter in an increasingly competitive market as the pressure on prices increased and the sector was hit by higher raw-material costs and weaker demand....

[AP] - Swedish home appliance maker Electrolux AB said third-quarter net profits fell 15 percent because of slacker sales in Europe and North America, higher raw material costs and more spending on marketing.

AP - Swedish home appliance maker Electrolux AB said third-quarter net profits fell 15 percent because of slacker sales in Europe and North America, higher raw material costs and more spending on marketing.

Electrolux, a leading global maker of household appliances, posted Thursday a 48-percent plunge in net profit in 2011, as price pressure, high material prices and weak demand hit earnings."The appliance market in the fourth quarter of 2011 remained very competitive. The headwinds of price pressure, higher raw-material costs and weak demand grew stronger as the year progressed," chief executive Keith McLoughlin said in a statement.He said these factors negatively impacted earnings by three billion kronor (339 million euros, $445 million).