Former Haier Europe CEO Yannick Fierling has just been announced as the new incoming president and CEO of Electrolux Group, and will step into the role next year.
Fierling is due to start at Electrolux on October 1, and plans to take over the role following a three-month handover period. He will succeed former CEO Jonas Samuelson, who earlier announced that he will be leaving the company before the end of 2024.
Fierling has more than 20 years of experience in the household appliances industry, and was CEO of Haier Europe until very recently. He announced his resignation from his former role in March, and left the company at the end of April. He has also held several senior positions at Whirlpool Corporation.
Torbjörn Lööf, chairman of Electrolux’s Board of Directors, called Fierling “a very experienced leader with a solid background in the appliance industry”. He went on to say: “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.”
Fierling said he was “grateful for the confidence of the Board” and said he felt “very excited about this opportunity”. He continued: “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.”
At the end of last year, Electrolux also announced that it was stepping up its cost reduction programme to restore margins against a backdrop of continued weak consumer demand and competitive pressures in the market.
