Electrolux AB Cost Reduction Program and Management Changes Call Transcript

Sep 12, 2022

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Sep 12, 2022 / 08:00AM GMT
Operator

Good day, and thank you for standing by. Welcome to Electrolux conference call (Operator Instructions)

I would now like to hand the conference over to our (technical difficulty) speaker today, Jonas Samuelson, President and CEO of Electrolux. Please go ahead.

Jonas Samuelson - AB Electrolux(publ)-President - CEO & Director

Thank you. Good morning, and welcome to this update on this morning's press release about our upcoming cost reduction program and management changes. With me here today is Sophie Arnius, our Head of Investor Relations. I would also like to mention that this session is recorded and will be available on our website as an on-demand version. I will first do a short summary and then open up for questions.

So this morning, we announced that we're initiating a cost reduction program on the back of weaker-than-expected market demand, continued supply chain inefficiency mainly in North America and sequentially weaker earnings during the third quarter. What we have seen so far in the

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