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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 4, 1999
WHIRLPOOL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-3932 38-1490038
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(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification No.)
2000 M63 North, Benton Harbor, Michigan 49022-2692
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(Address of principal executive officers) (Zip Code)
(616)-923-5000
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Registrant's telephone number, including area code
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Item 5. Other Events
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On June 4, 1999, the registrant issued a press release announcing
it's board of directors had elected Jeff M. Fettig to the position of president
and chief operating officer. Fettig was also elected to the company's board of
directors. The board also selected Bengt G. Engstrom, currently vice president,
manufacturing and technology for Whirlpool Europe, to succeed Fettig as
executive vice president and head of Whirlpool Europe. Mark E. Brown has been
promoted to the position of executive vice president and chief financial officer
succeeding Ralph F. Hake who has resigned from the company.
Item 7. Financial Statements and Exhibits
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Copy of press release dated June 4, 1999 regarding the registrant's
announcement of several top management changes.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WHIRLPOOL CORPORATION
Registrant
Date: June 4, 1999 By: /s/ Robert T. Kenagy
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Name: Robert T. Kenagy
Title: Associate General Counsel and
Secretary
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EXHIBIT 99.1
Contact:
Media Community
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Christopher Wyse
616-923-3417
[email protected]
Investment Community
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Tom Filstrup
616-923-3189
[email protected]
WHIRLPOOL BOARD ELECTS FETTIG PRESIDENT AND CHIEF
OPERATING OFFICER AND NAMED TO BOARD; ENGSTROM AND BROWN
NAMED TO KEY EXECUTIVE POSTS
BENTON HARBOR, Mich.-June 4, 1999-The board of directors of Whirlpool
Corporation has elected Jeff M. Fettig president and chief operating officer.
Fettig was also elected to the company's board of directors. The board also
selected Bengt G. Engstrom, currently vice president, manufacturing and
technology for Whirlpool Europe, to succeed Fettig as executive vice president
and head of Whirlpool Europe and promoted Mark E. Brown to the position of
executive vice president and chief financial officer. Brown is currently
corporate vice president and controller. The changes are effective immediately.
"These changes will help us extend, even further, our global leadership
position in the appliance industry," said Whirlpool chairman and CEO David R.
Whitwam. "We believe these changes will significantly enhance our ability to
improve value creation by delivering innovative products and services under our
great brands around the world."
"These appointments also demonstrate the depth of the management talent we
have at Whirlpool and are a result of our vigorous internal processes of
leadership development and succession planning," Whitwam added.
"Jeff Fettig has demonstrated his unique capabilities by successfully
leading our significantly improved performance in Europe, which has led to
Whirlpool's position as the number one brand of appliances in Europe," said
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[INSERT WHIRLPOOL CORPORATION LOGO]
Administrative Center, Benton Harbor, Michigan 49022
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Whirlpool Board Elects Fettig - add one
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Whitwam. "We have operated without a president and chief operating officer at
our company for several years, but our growth and increasing complexity have
created a need to fill this important position at this time. Jeff's breadth of
experience in the Whirlpool organization and his demonstrated leadership
capabilities make him eminently qualified to fill this important role."
A native of Tipton, Ind., Fettig, 42, joined Whirlpool in 1981 in financial
operations. He held a number of managerial positions in operations, sales,
planning and product development before being promoted to vice president of
marketing, KitchenAid, in July 1989. In 1990 he was named vice president of
marketing for the Whirlpool Appliance Group in Whirlpool Europe. Two years later
he returned to the United States and was appointed vice president of group
marketing and sales, North American Appliance Group. He moved back to Europe as
an executive vice president and president of Whirlpool Europe in 1994. Fettig
holds a bachelor's degree in finance and a master of business administration
degree from Indiana University.
"Bengt Engstrom's broad experience in business, technology and
manufacturing -- along with his extensive knowledge over 20 years of the
European appliance industry -- position him well to provide the leadership
Whirlpool Europe needs in the coming years," Whitwam said.
Engstrom, 46, joined Whirlpool in 1988 as plant manager of Whirlpool
Europe's Sweden facility. He was later named managing director of Whirlpool
Sweden and a key leader for the company's microwave oven business in Europe. He
was appointed vice president and general manager for Whirlpool's global
microwave oven business in 1994, located in the United States. He was named to
his current European position in 1997. Engstrom received a degree in mechanical
engineering from the Royal Institute of Technology in Sweden.
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Whirlpool Board Elects Fettig - add two
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"Mark Brown's broad manufacturing, procurement, product management and
international experiences, coupled with his extensive financial assignments,
make him highly qualified and well-suited to serve as our CFO," added Whitwam.
Brown, 48, joined Whirlpool in 1973 as an accountant. He later managed the
company's Columbia, S.C. plant, served as controller for the North American
Appliance Group, and vice president of procurement for North America. In 1991,
Brown was named general manager of product management for North America and then
moved to Hong Kong as chief financial officer for Whirlpool Asia. He was named
corporate controller in 1997. A native of Peosta, Iowa, Brown holds a bachelor's
degree from the University of Iowa.
Brown succeeds Ralph F. Hake who has resigned from the company to pursue
other opportunities. Hake joined Whirlpool in 1987 and held a variety of
executive positions. He was named senior executive vice president and chief
financial officer in 1997. "We appreciate the many contributions Ralph Hake made
while at Whirlpool and wish him well in his future pursuits," said Whitwam.
Whirlpool Corporation is the world's leading manufacturer and marketer of
major home appliances. Headquartered in Benton Harbor, the company manufactures
in 13 countries and markets products under 11 major brand names in more than 170
countries.
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