Key Developments: Electrolux AB (ELUXb.ST)

ELUXb.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Electrolux AB's board chairman Marcus Wallenberg to step down at AGM
Friday, 21 Feb 2014 02:00am EST 

Electrolux AB:Says Marcus Wallenberg, chairman of the board of directors of Electrolux, has informed the nomination committee that he will not stand for re-election at the company‚Äôs annual general meeting on March 26.Says the reason is to ensure compliance with new EU regulations limiting the number of board assignments.Says Barbara Milian Thoralfsson has also declined re-election to the Board.Says the nomination committee proposes Ronnie Leten as new chairman and Petra Hedengran as new board member.  Full Article

Electrolux AB proposes dividend for 2013
Friday, 31 Jan 2014 02:08am EST 

Electrolux AB:Says the Board proposes a dividend for 2013 of 6.50 Swedish crown per share.  Full Article

Electrolux AB Launches Cost-Cutting Program; Closes Factory for Refrigerators and Freezers in Orange, Australia-DJ
Friday, 25 Oct 2013 03:34am EDT 

Dow Jones reported that Electrolux AB will cut costs to adapt to the European market, which continues to suffer from weak demand. The program will mainly hit the business unit Major Appliances Europe, Middle East and Africa, but also other business areas. The Company is launching an investigation into the competitiveness of its Italian manufacturing business for major appliances, which includes all four plants. Electrolux has also decided to close its factory for refrigerators and freezers in Orange, Australia, and to concentrate production at the major appliances plant in Rayong, Thailand. Approximately 2,000 employees may be affected by the cost cuts, excluding any fallout from the investigation into the Italian manufacturing operations.  Full Article

Electrolux AB Extends Plant Closure in Egypt-Reuters
Sunday, 18 Aug 2013 05:40am EDT 

Reuters reported that Electrolux AB on August 18, 2013 extended the closure of its Egyptian facilities until security stabilizes. Electrolux, which has nearly 7,000 employees in Egypt, suspended production in the Egypt on August 14, 2013 for five days.  Full Article

Electrolux AB Halts Production in Egypt Due to Unrest-Reuters
Thursday, 15 Aug 2013 03:57am EDT 

Reuters reported that Electrolux AB has halted all production in Egypt, where it has around 7,000 employees, due to increasing unrest in the country. The Group will Review the decision on August 17, 2013.  Full Article

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