Electrolux's Boardroom Shake-Up Continues

STOCKHOLM—The boardroom shake-up at Electrolux AB continues, with the Swedish appliance maker set to lose its chief financial officer to metals company Sandvik AB just days after the resignation of Chief Executive Keith McLoughlin.

The management moves follow Electrolux's unsuccessful $3.3 billion takeover bid for General Electric's appliance business last year which the U.S. industrial group has since sold for $5.4 billion to China's Haier Group, one of Electrolux's fast-rising competitors.

Electrolux said on Friday that Tomas Eliasson, its departing CFO, would remain with the company for up to six months, as the search begins for his replacement.

Mr. McLoughlin said last week he was stepping down a month after the protracted efforts to buy the GE business collapsed. His replacement will be Jonas Samuelson, currently head of Electrolux's major appliances business in Europe, Middle East and Africa, and himself a previous CFO at the company.

Sandvik, a specialist supplier of steel products and industrial equipment, has been searching for a CFO since November last year.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

January 22, 2016 03:25 ET (08:25 GMT)

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