“

Analysis
“
In markets like the UK and
Ireland, we’re going to be
able to offer a portfolio to
serve the entire market
rather than just a piece of
the market
“
evaluate it first, but once we did, it made a lot of sense
for both of our companies.”
Mr Fettig continued: “We know there was no other
company that was better suited to buy Indesit than
the Whirlpool Corporation. We can create more value
than anyone else, but more importantly, this acquisition
was the best possible investment to make our
European business – and our global business –
stronger.”
Mr Fettig claimed that the Whirlpool Corporation will
more than double its profitability in 2015 and, at the
same time, it will invest considerably in new products.
He concluded: “We don’t get overexcited just
saying we’re the biggest, that’s not the point. The way
we measure that is that we have the best products,
we have the best brands, we have the best people
serving the trade and we get the appropriate returns
so that we can reinvest in the business. I think that a
pragmatic view, based on that criteria, is that we are
the best.”
ERTIreland
‘We have the strongest platform in Europe today…’
Esther Berrozpe Galindo is the president of
Whirlpool EMEA, which had a turnover of
$20 billion in 2014, and the newly enlarged
company employs more than 100,000 staff.
Speaking at the Leading Change event
in Barcelona, Ms Berrozpe Galindo said the
acquisition of Indesit gives Whirlpool a much better,
balanced portfolio from a regional perspective.
She said: “With the Indesit Company
acquisition, we have become the emerging leader
in the EMEA region and the number one western
company in China.
“Before the acquisition, Indesit was the number
two in the region and Whirlpool was number four.
Post-acquisition, Whirlpool is the number one
company in the region, with BSH at number two
and Electrolux at number three.”
Ms Berrozpe Galindo continued: “With the
acquisition, we are doubling our scale in Europe
and I believe we have the strongest platform in
Europe today. We are looking to save $350 million
over the next four years through synergies, primarily
in procurement and product/operating platforms.
“Whirlpool’s old mission was ‘be in every
home, everywhere, all around the world’, it was
more about selling and having a big presence
everywhere.
“Now it’s more about creating the demand and
earning the trust of our customers. We don’t want
to push the sales, we want the customers to
demand our products.”
Ms Berrozpe Galindo said that the integration
will be complex, but she was keen to point out
Esther Berrozpe Galindo
that “it’s not about the big Whirlpool Corporation
absorbing Indesit”.
She said: “This is about the merger of equals in
Europe. We need to make sure as we integrate, that
we maintain the heritage of both companies. We
need to change our mind-sets, as previously, both
companies were not leading in Europe, but now
we are and we have a responsibility as leaders to
continue to bring innovations and value to the entire
supply chain.”
Whirlpool induction hob
ERT· www.ERTIreland.ie
April 2015 · 7
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