Electrolux Sharpens Organization to Drive Profitable Growth
STOCKHOLM: Electrolux implements strategic and organizational changes to reinforce its ability to create outstanding consumer experiences and drive profitable growth in its consumer business.
To accelerate product and ownership experience innovation, Electrolux is also pulling together central functions focused on consumer experiences into a new organizational structure, headed by a Group Chief Experience Officer (CXO). This organization is globally responsible for areas such as marketing, design, product lines, digital consumer solutions and ownership experience. Ola Nilsson, currently head of Home Care & SDA, has been named Group CXO and Executive Vice President. Related to this change of roles and responsibilities within Group Management, Chief Operations Officer Jan Brockmann is also being named Executive Vice President.
The Electrolux Board of Directors yesterday announced an intention to separate and list the Professional Products business area. Read more about the intended proposal to shareholders here.
During the past years we have made many improvements in terms of focusing Electrolux brands and product offering on consumer experience innovation. We've increased the speed of digital transformation and made significant investments in modularization and automation. These changes have resulted in a substantial improvement of our performance in 2017 and 2018, said Jonas Samuelson, President and CEO of Electrolux.
As Electrolux now becomes even more focused on the consumer business, we have tremendous opportunities to drive profitable growth. We will do this by accelerating innovation in our key experience areas, developing our aftermarket presence through a world-class ownership solutions offering and leveraging the continued digital evolution of the marketplace. With four consumer-focused business areas and strong global capabilities both in the front and back end of our operations, we are organizing ourselves to deliver in these areas. Electrolux financial targets will remain unchanged following a separation of Professional Products.
The changes announced today are effective immediately. Electrolux will publish its first quarterly report based on the updated business area structure on April 26, 2019. Proforma figures showing the performance of the merged business areas will be made available through a press release prior to the quarterly report.