- After around 13 years on the job
- Accolades, praise and thanks for Fettig
- Fettig will remain as Chairman of the Board of Directors at Whirlpool
- Fettig spoke at length and said 216 words
(exechange) — Benton Harbor, Michigan, June 20, 2017 — Jeff Fettig, chief executive of Whirlpool, hands over the reins. As announced by Whirlpool Corporation in a news release on Tuesday, June 20, 2017, Jeff M. Fettig leaves the post as Chief Executive Officer at the home appliance company after around 13 years on the job, effective October 01, 2017.
It is the end of an era.
Fettig’s duties are taken over by Marc Bitzer, currently President and Chief Operating Officer at Whirlpool Corporation.
No reason given
In the announcement, Whirlpool did not explicitly explain the reason for Fettig’s move.
Fettig will remain as Chairman of the Board of Directors at Whirlpool
“Jeff M. Fettig, Whirlpool Corporation’s Chairman and CEO since 2004, will step down as CEO and continue in his role as Chairman of the Board of Directors,” Whirlpool said.
Share price rise since November 2011
The change follows a rise in the share price of Whirlpool Corporation since November 2011.
On the job as CEO since 2004
Fettig has been the Chief Executive Officer of Whirlpool Corporation since July 1, 2004.
Fettig joined Whirlpool in 1981 as an Operations Associate.
He held a number of managerial positions in operations, sales, planning and product development before being promoted to Vice President of Marketing for the KitchenAid appliance group in July 1989.
In October 1990, he was named Vice President of Marketing for the Phillips Whirlpool Appliance Group of Whirlpool Europe BV, the company’s European subsidiary.
He was named Vice President of Group Marketing and Sales for the company’s North America Appliance group in October 1992.
In 1994, he was named an Executive Vice President of Whirlpool Corporation and President of Whirlpool Europe and Asia.
Fettig served as President and Chief Operating Officer and was first elected to the Whirlpool Board of Directors in June 1999.
He became Whirlpool Corporation’s Chairman and Chief Executive Officer in July 2004.
A native of Tipton, Indiana, Fettig holds a Bachelor’s degree in finance and an MBA from Indiana University.
Fettig serves as the lead director of the Dow Chemical Board of Directors and is a member of the Board of Directors for the Kohler Company.
He serves on the Board of Directors of the Indiana University Foundation and on the Board of Governors for Boys and Girls Clubs of America.
He also is a member of the Business Leaders for Michigan and the Business Roundtable.
Read the full story in the exechange report 26.2017 ($).