Whirlpool Corp (WHR) has issued an announcement.
Whirlpool Corporation has finalized its strategic alliance with Arçelik, merging their respective European appliance operations into a new entity, with Whirlpool holding a 25% stake and Arçelik the majority. Additionally, Whirlpool’s appliance business in the Middle East and North Africa has been sold to Arçelik. These changes have led to the elimination of the President, Europe, Middle East and Africa executive role, with the former holder, Gilles Morel, transitioning to support the businesses and lead strategic initiatives. Whirlpool advises investors to keep an eye on its website for important updates.
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