news
Ex-Haier CEO to take the reins at Electrolux
FORMER HAIER Europe CEO Yannick Fierling has been appointed as the new 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 when he left the company at the end of April. He has also held several senior positions at Whirlpool Corporation. Commenting on the appointment, Torbjörn Lööf, chairman of Electrolux’s
Board of Directors, said: “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 “very excited about this opportunity,” stating that
“having spent many years in the household appliances industry, it is hard to find a more energising and inspiring role.”
Egger Group closes financial year with €4.13 billion turnover
EGGER GROUP generated a Group-wide turnover of €4.13 billion (£3.52bn) in the 2023/2024 financial year, down 7.1% compared to the previous year. The company said the results reflect a “turbulent overall economic
environment”, yet has stated that its strategic milestones in “growth and climate protection” have been reached. The financial results also show Egger’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) at €493.6 million (£420.7m), which is down 18.1% compared to the previous year. This represents an EBITDA margin of 11.9%. Speaking at a press conference, Thomas Leissing (pictured far left), chief financial officer of Egger Group, said: “We are not entirely satisfied with the results. At the same time, we are proud that we have been holding our own in this very difficult environment. We are clearly focused on the future and are delighted to have been able to initiate far-reaching strategic developments.”
September 2024
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