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Electrolux North America CEO Jack Truong Resigns Amid Merger With GE Appliances

Electrolux said Wednesday the CEO of its Charlotte-based North American division has resigned, and the appliance maker announced it expects the unit to incur a first-quarter loss as it works to meet tighter energy standards.

Jack Truong, the company’s public face in Charlotte since 2011, has resigned to pursue “other interests,” the company said. Keith McLoughlin, CEO of Sweden-based Electrolux, will act as interim head of Major Appliances North America as the company begins searching for Truong’s replacement. McLoughlin previously held the post from 2003 to 2007.

“What we can say is today’s announcement is around restoring business results and accelerating our plans to ensure the business results are in line with expectations,” McLoughlin told the Observer.

“It’s obviously about making sure we have skills and capabilities in place to close the GE transaction,” he said, referring to the company’s plans to acquire General Electric’s Louisville, Ky.-based home appliance business, a $3.3 billion deal announced last year.

Truong did not immediately respond to a message seeking comment.

McLoughlin on Wednesday reaffirmed the company’s commitment to Charlotte after the GE Appliances deal is complete. Electrolux said it anticipates the deal, which requires signoff from nine countries, will be approved in full this year and will result in $350 million in cost savings.

Read more: Charlotte Observer


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