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Electrolux

#4118

Rank

$2.19B

Marketcap

SE Sweden

Country

Electrolux
Leadership team

Mr. Jonas Samuelson Econ., M.Sc. (Pres, CEO & Director)

Ms. Therese Friberg (Exec. VP & CFO)

Mr. Carsten Franke (Head of Operations & Exec. VP)

Products/ Services
Consumer Electronics, Electronics, Machinery Manufacturing, Manufacturing
Number of Employees
Above 50,000
Headquarters
Stockholm, Stockholms Lan, Sweden
Established
1919
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
ELUX-A.ST
Social Media
Overview
Location
Summary
AB Electrolux (publ), together with its subsidiaries, manufactures and sells household appliances in Europe, North America, Latin America, the Asia/Pacific, the Middle East, and Africa. The company offers various appliances, such as refrigerators, freezers, cookers, dryers, washing machines, dishwashers, room air-conditioners, microwave ovens, floor-care products, vacuum cleaners, water heaters, heat pumps, and other small domestic appliances, as well as consumables and accessories. It also provides hobs, ovens, and hoods; and tumble dryers. The company offers its products under the Electrolux, AEG, and Frigidaire brands through retailers, buying groups, and independent stores. AB Electrolux (publ) was founded in 1901 and is headquartered in Stockholm, Sweden.
History

The company originates from a merger of two companies—Lux AB and Svenska Elektron AB, the former an established manufacturer and the latter a younger company founded by a former vacuum salesman who had also been an employee of the former firm. The origins of Electrolux are closely tied to the vacuum, but today it also makes major appliances.

Sales company to major manufacturer

In 1919, a Svenska Elektron AB acquisition, Elektromekaniska AB, became Elektrolux . It initially sold Lux branded vacuum cleaners in several European countries.In 1923, the company acquired AB Arctic and subsequently added absorption refrigerators to its product line. Other appliances soon followed, including washing machines in 1951, dishwashers in 1959, and food service equipment in 1962.

Mergers and acquisitions

The company has often and regularly expanded through mergers and acquisitions.

While Electrolux had bought several companies before the 1960s, that decade saw the beginnings of a new wave of M&A activity. The company bought ElektroHelios, Norwegian Elektra, Danish Atlas, Finnish Slev, and Flymo, et al., in the nine years from 1960 to 1969. This style of growth continued through the 1990s, seeing Electrolux purchase scores of companies including, for a time, Husqvarna.

Hans Werthen

Hans Werthen, President and later chairman of the board, led the strategic core of an increasingly decentralized Electrolux—and was instrumental to its rapid growth.

Restructuring

While attempts to cut costs, centralise administration, and wring out economies of scale from Electrolux's operations were made in the 1960s and 1970s with the focus so firmly on growth, further company-wide restructuring efforts only began in the late 1990s.

A public company

Electrolux made an initial public offering on the London Stock Exchange in 1928 and another on the Stockholm Stock Exchange in 1930.Currently, its shares trade on the NASDAQ OMX Nordic Market and over-the-counter. Electrolux is an OMX Nordic 40 constituent stock.

2000 to present

In North America, the Electrolux name was long used by vacuum cleaner manufacturer Aerus LLC, originally established to sell Swedish Electrolux products. In 2000, Aerus transferred trademark rights back to the Electrolux Group, and ceased using the Electrolux name in 2004.

Conversely, Electrolux-made vacuums carried the Eureka brand name, which Electrolux continued to use while also selling Electrolux branded vacuums after 2000. Electrolux USA customer service maintains a database of Electrolux made vacuums and provides a link to Aerus's website for the convenience of owners of Electrolux branded Aerus vacuums.Keith McLoughlin took over as president and CEO on January 1, 2011, and became the company's first non Swedish chief executive.

In August 2011, Electrolux acquired from Sigdo Koppers the Chilean appliance manufacturer CTI obtaining several brands with the purchase including: Fensa, Gafa, Mademsa and Somela.On February 6, 2017, Electrolux announced that it had agreed to acquire Anova Applied Electronics, Inc., the U.S.-based provider of the Anova Precision Cooker.On March 23, 2020, Electrolux completed the spin-off of its professional division, which the separated company incorporated as Electrolux Professional AB.

Mission
We reinvent taste, care and wellbeing experiences for more enjoyable and sustainable living around the world.
Vision
We will be the best appliance company in the world, as measured by our customers, employees and shareholders.
Key Team

Mr. J. P. Iversen (Chief Information Officer)

Ms. Sophie Arnius (Head of Investor Relations)

Ulrika Elfving (Group Gen. Counsel & Sec. of the Board)

Mr. Lars Worsoe Petersen (Chief HR Officer & Communications and Sr. VP)

Ms. Anna Ohlsson-Leijon (Exec. VP & Chief Commercial Officer)

Mr. Jose Luis De La Flor (Managing Director SA Latin America Region)

Mr. Ola Nilsson (Head of Consumer Experience & Product Lines and Exec. VP)

Recognition and Awards
Electrolux has been the recipient of numerous awards such as the R. F. Sustainability Award, Queen’s Award for Enterprise, German Design Award, Energy Star Partner of the Year Award and more.
References
Electrolux
Leadership team

Mr. Jonas Samuelson Econ., M.Sc. (Pres, CEO & Director)

Ms. Therese Friberg (Exec. VP & CFO)

Mr. Carsten Franke (Head of Operations & Exec. VP)

Products/ Services
Consumer Electronics, Electronics, Machinery Manufacturing, Manufacturing
Number of Employees
Above 50,000
Headquarters
Stockholm, Stockholms Lan, Sweden
Established
1919
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
ELUX-A.ST
Social Media