Electrolux appoints new head of Professional Appliances

Electrolux appoints new head of Professional Appliances The appliance group Electrolux has appointed Dr. Detlef Münchow as Executive Vice President and head of the Group's large Professional Appliances business sector. This sector accounts for around 10% of Group business. Dr. Detlef Münchow succeeds Mr. Aldo Sessegolo, Italy, who is retiring after three years as sector head and more than 30 years with the Group. "The position requires extraordinary management qualities and broad experience in manufacturing, sales and distribution on a truly global level. In addition, one must have experience in business to business activities and dealing with key accounts," says Electrolux's President and CEO, Michael Treschow. Münchow holds a Masters degree and a Ph.D. in Economics from the University of Münster, Germany, and speaks English, German, and French. He lives with his family in London, and has worked in the US, Germany and the UK. He will join the Group in January 1999. 46 years old, Dr. Münchow is currently working for FAG Kugelfischer Georg Schäfer AG, Schweinfurt/Germany and has had a number of managerial appointments within the FAG Group since joining them in 1993. Dr. Münchow is also a member of the extended Board of the Company. His most recent assignment has been as Chief Operating Officer for FAG Bearings Corp., USA, a company of the FAG Kugelfischer Group. FAG has about 17,000 employees and worldwide sales of about DEM 3,2 billion. Before joining the FAG Group, Dr. Münchow headed several branches within the consulting firm Knight Wendling/Wegenstein AG. He later worked with information technology consultants, GMO AG, where he was a board member and CEO of the Management Consulting division. Dr. Münchow's appointment will be as Executive Vice President of Electrolux and President of the Professional Appliances business sector. As such, he will also be one of twelve members of the Group's management team. As business sector head, he reports directly to the CEO. The business sector Professional Appliances manufactures and sells appliances for professional users, such as food-service equipment for restaurants and institutions, refrigeration and freezing equipment for food-retailers, and laundry equipment. The sector comprises five global product lines, has around 11,000 employees and sales of SEK 11,400 million in 1997. "A major challenge of this job will be to head a culturally and geographically diverse team. It was his international experience that convinced us that Münchow was the right man for the job," comments Michael Treschow. Today, Electrolux is Europe's leader in food-service equipment, and the second largest producer of these products in the world. Food-service equipment accounts for half of the sales in the business sector. Electrolux is also the world market leader in laundry equipment for apartment building laundry rooms, coin-operated laundries, hotels, and institutions. Furthermore, Electrolux is one of the world's largest producers of refrigerators and freezers for food retailers. Electrolux is also a large manufacturer of vending equipment. The Electrolux Group is one of the world's leading producers of household appliances for indoor and outdoor use and corresponding products for professional users. Sales in 1997 were SEK 113 billion. The Group employs 106,000 people, and has operations in more than 60 countries around the world, with sales in more than 100. Further information For further information, please contact Senior Vice President for Organisational Development and Management Resources, Mike Regan, at +44-1582 588 545 or +46-8-738 64 79. Dr. Detlef Münchow can be reached at +44-171 221 6903, or fax +44-171 792 8273. The Electrolux Press Hotline is available at +46-8-657 65 07. ------------------------------------------------------------ Please visit <A HREF="http://www.bit.se">http://www.bit.se</A> for further information The following files are available for download: http://www.bit.se/bitonline/1998/11/03/19981103BIT00020/bit0001.doc http://www.bit.se/bitonline/1998/11/03/19981103BIT00020/bit0002.pdf