How failed GE bid impacted profits.
Swedish home appliance maker Electrolux has posted a 393 million kronor ($A65.44 million) fourth quarter loss after it failed in its bid for General Electric’s appliance business.
The loss for world’s second-largest appliance maker after US rival Whirlpool compares with a 970 million kronor profit a year earlier.
Electrolux said sales rose only one per cent to 31.8 billion kronor ($3.7 billion).
Earlier this month, CEO Keith McLaughlin said he would retire February 1, and would be replaced by Jonas Samuelson (pictured above), current head of an Electrolux division for Europe, Middle East and Africa area.
Electrolux said Dan Arler had been tapped to become head of its European appliances unit, while Alan Shaw was named new head of Electrolux’s North American unit.