STOCKHOLM, Sweden (AP)–Electrolux AB chairman Rune Andersson said Monday he will step down in April to spend more time on his own group of companies.
Andersson has served on the board of the appliance maker since 1998.
“My work as chairman of Electrolux has been very stimulating, and by April 2004 I will have held this position for six years. During these years my own group of companies has grown substantially and requires more of my time,” Andersson said.
The Electrolux Group is the world’s largest producer of household appliances. The Stockholm-based manufacturer’s brands include Frigidaire, Electrolux, Weed Eater and Eureka. It has 82,000 employees and sales in more than 150 countries.
Electrolux shares fell 1.9 percent to close at 157.50 kronor ($21.40) in Stockholm trading.
