Published on June 21st, 2017 | by The GC Team0
Whirlpool Corporation’s Jeff Fettig to step down as CEO
Jeff M. Fettig, Chairman and CEO of Whirlpool Corporation since 2004, will step down as CEO and continue in his role as Chairman of the Board of Directors.
The Whirlpool Corporation Board of Directors has elected Marc Bitzer, the company’s current President and Chief Operating Officer, to succeed Fettig as CEO. The changes will become effective 1st October 2017.
“On behalf of the Whirlpool Board of Directors, we are very pleased to appoint Marc as our next CEO, the 8th CEO in our 106-year history,” said Fettig (pictured right). “Marc has a deep understanding of our business throughout the world and has personally led our operations and delivered strong results during his 18-year tenure at Whirlpool. As we prepare for the future, I am very confident that Marc is uniquely qualified to lead our company in continued success.”
Fettig (age 60) will continue to serve as Chairman of the Board. “My primary role,” he said, “is to support Whirlpool, Marc and our leadership team in this planned CEO transition. I am effectively stepping away from our day-to-day management after 36 years of service and the last 13 as CEO.
“As a company, we have achieved significant milestones during this time through the great work of Whirlpool people throughout the world. Going forward, I believe we have more opportunities than ever before in our 106-year history. I know Marc, and our Whirlpool leadership team, will continue to achieve great things for our company in the years ahead.”
52 year-old Bitzer (pictured left) was named President and Chief Operating Officer and elected to the Whirlpool Corporation Board of Directors in October 2015. Prior to this assignment he served as Vice Chairman, which included overall leadership of Whirlpool North America and Whirlpool Europe, Middle East and Africa (EMEA).
Bitzer joined Whirlpool Europe in 1999 as Vice President, Bauknecht brand group. He became Senior Vice President of Marketing Sales and Services for Whirlpool Europe in 2000 and was named President of Whirlpool Europe in January 2006. Between 2009 and 2013, he went on to serve as President of Whirlpool North America and President of the company’s US operations.
“I want to thank the Whirlpool Board of Directors and especially Jeff Fettig for their confidence in appointing me to this position,” Bitzer commented. “The foundation of success built by Jeff and so many within this company affords us an exciting future to exceed the needs and aspirations of our customers, expand shareholder value and create a unique and fast-paced workplace that people continually are proud to call Whirlpool Corporation.”