Whirlpool Corporation Announces Retirement of Sam Wu, Executive Vice President and President, Whirlpool Asia

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Apr 01, 2022, 08:00 ET

Wu to serve in an advisory role and remain Vice-Chairman of Whirlpool China Co. Ltd.

Jim Peters to assume responsibility for Whirlpool Asia in addition to role as Chief Financial Officer

BENTON HARBOR, Mich., April 1, 2022 /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR) announced today that Shengpo (Sam) Wu, Executive Vice President and President, Whirlpool Asia, will retire from his role effective April 1, 2022. Wu, who joined Whirlpool Corporation in 2017, will continue to serve in an advisory role and will remain the Vice-Chairman of Whirlpool China Co. Ltd.

Upon Wu's retirement, Jim Peters, Executive Vice President and CFO of Whirlpool Corporation, will assume responsibility for Whirlpool Asia, in addition to his current role.

"On behalf of our global employee base, I want to thank Sam for his many contributions and leadership over the last several years, especially for his leadership of Whirlpool Asia," said Marc Bitzer, Chairman and CEO, Whirlpool Corporation. "Sam's commitment to the Asian region has enabled us to further drive brand and product leadership and operational excellence in the region during a pivotal time. We wish him well in retirement."

Wu joined Whirlpool Corporation in February 2017 as President, Whirlpool Asia, and a member of the company's Executive Committee. Under his leadership, the Asia business drove top-line growth and expanded margins, while also streamlining its portfolio with the sale of its majority interest in Whirlpool China Co. Ltd. in 2021. Wu also led greater company positioning in India and stronger brand awareness in China for the company's flagship Whirlpool brand.

Wu joined Whirlpool Corporation from his role as President and Chief Executive Officer, Asia Pacific, of Osram GmbH, a globally leading lighting manufacturer. He previously held regional and global executive positions at both General Electric and Honeywell. Wu currently serves on the Board of Governors with American Chamber of Commerce Hong Kong, and he also co-chaired the U.S.-China Energy Cooperation Program, Industrial Energy, with the American Chamber of Commerce in China.

Wu received his bachelor's degree from Tsinghua University. He completed a master's degree in mechanical engineering from the University of Nebraska-Lincoln, and a master's degree in information management from Keller Graduate School of Management of DeVry University.

Commenting on Jim Peters' additional responsibility, Bitzer added, "Jim's experience across the entire company and his knowledge and involvement with the Asia business will serve him well as he assumes responsibility for the region. Jim is a proven leader and will continue to drive success for us in his expanded role."

Jim Peters was named Executive Vice President and CFO in August 2016. Since Peters joined Whirlpool Corporation in 2004, he has held various senior level positions including Vice President and CFO of the company's North American Region as well as Vice President and CFO of Whirlpool EMEA (Europe, Middle East, and Africa). Prior to joining the company, Peters was a Manager of Internal Audit for Limited Brands and a Consulting Manager at Ernst & Young. Peters received his bachelor's in Accounting and Business Administration at the University of Kansas and earned a master's in Business Administration in Finance at Indiana University.

About Whirlpool Corporation

Whirlpool Corporation (NYSE: WHR) is committed to being the best global kitchen and laundry company, in constant pursuit of improving life at home. In an increasingly digital world, the company is driving purposeful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and Yummly. In 2021, the company reported approximately $22 billion in annual sales, 69,000 employees and 54 manufacturing and technology research centers. Additional information about the company can be found at WhirlpoolCorp.com.

SOURCE Whirlpool Corporation