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Whirlpool Named Among America’s Most Innovative Companies by Fortune

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Whirlpool Corporation has been recognised on a roster of 300 innovative American companies by the business magazine Fortune

The US-based appliances maker, Whirlpool, has been included among the country’s 300 most innovative companies, along with the likes of Microsoft and Apple, firms perhaps more well-known for their ground-breaking tech. The companies on the list were chosen based on three qualifying categories: product innovation, process innovation, and innovation culture.

“A spirit of innovation is embedded in our culture and we are proud to be named one of Fortune‘s most innovative companies,” said Marc Bitzer, Chairman and CEO of Whirlpool Corp. “With a diverse and growing product portfolio across several trusted US brands, this recognition is a testament to our employees who work tirelessly to create innovative solutions that improve life at home for consumers.”

An innovator for more than 100 years

Founded in 1911, the manufacturer of washers and dryers, refrigerators, air conditioning equipment, cooking appliances and dishwashers has been innovating and bringing new tech to consumers for over 100 years. “From the first electric wringer washer in 1911 to our current line-up of leading-edge home appliances, we are obsessed with developing technology that is purposeful in saving time or eliminating work for consumers,” said Roberto Campos, Senior Vice President of Whirlpool Corp’s Global Product Organisation.

To develop its innovative appliances, Whirlpool looks to its team of engineers and designers. “The best and the brightest engineers and designers, collaborating globally on shared appliance architectures, have been able to unleash innovation in its truest sense and help shape the modern home,” Campos added.

Among the innovations the firm has introduced in recent years are a washing machine able to filter pet hair; a 2 in 1 washer with a removable agitator; a large dishwasher with three-rack capacity, and the air fry functionality it brought to some of its smart ovens operated via an over-the-air update. Continuing on its quest for new cutting-edge functionalities in its appliances range, the company plans to bring Matter support to its smart modelsResponsibility and respect
Beyond its search for novel products with innovative functionalities, Whirlpool continues to look for innovative solutions to accelerate its environmental, social, and governance agenda. A recent example is the firm’s announcement that 29 of its large manufacturing sites around the world have reached Zero Waste to Landfill Gold or Platinum status.

Moreover, the company was recognised by the business magazine earlier this year as one of the World’s Most Admired Companies for the thirteenth consecutive year. The listing comprises the most respected and reputable companies around the world, as ranked by peers within their respective industries.

LG Electronics Ranks 1st in World Home Appliance Market Single Brands in 2022

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Haier took first place in terms of sales in the global home appliance market in 2022. This is the result of making a series of M&A deals with GE based in the United States, Fisher & Paykel based in New Zealand and Candy, based in Italy. By brands rather than sales revenue, LG Electronics maintained its No. 1 position.

According to Haier’s business report on April 4, sales of Haier’s home appliance division, excluding electronic parts and TVs, were tallied at 227.94677 billion yuan (about 43.7658 trillion won or US$33.3193 billion) in 2022. During the same period, sales of LG Electronics’ H&A Division in charge of the home appliance business amounted to 29.8955 trillion won (US$22.7613 billion), falling behind Haier by 14 trillion won (US$11 billion). Whirlpool recorded 25.4834 trillion won (US$19.4021 billion). A year ago, in 2021, Haier also took the world’s No. 1 spot in household appliances. At the time, its sales were about 39.2187 trillion won (US$29.8680 billion), a difference of more than 12 trillion won from LG Electronics’ 27.1097 trillion won (US$20.6461 billion).

Among Korean companies, LG Electronics surpassed Whirlpool in the United States in terms of sales, becoming the global No. 1 home electronics company for the first time in 2020. It maintained its No. 1 position for two consecutive years until last year. However, this is the result of overlookingoverlooking Haier, which is relatively unknown in Korea. “It is difficult to directly compare Haier’s group sales, which are the consolidated sales of several brands such as GE, which Haier took over, and LG Electronics’ sales are sales posted by one single brand,” LG Electronics said with reference to this.

Haier rose to prominence on the world stage when it bought foreign home appliance companies. After buying Japan’s Sanyo, it even took over the home appliance division from GE in the United States in early 2016. As of the end of 2014, before GE was in talks with Haier over selling off its home appliance business unit from GE, the unit’s sales sat at 9 trillion won or about US$8.44 billion. Haier has grown tremendously since the acquisition of the unit from GE. Haier’s home appliance sales jumped 1.5 times from about 12 trillion won (US$9.1 billion) in 2015 just before the acquisition of the unit to 18 trillion won (US$14 billion) in 2016.

Haier’s purchases of overseas home appliance companies were made in order to break away from its low-priced brand image as a Chinese company as well as to increase its size, analysts say. Recently, Haier is focusing on the smart home business while emphasizing its Internet of Things-based premium home appliance strategy.

Whirlpool Corporation named one of Fortune’s Most Innovative Companies for 2023

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Whirlpool Corporation named one of Fortune’s Most Innovative Companies for 2023 Awards, Brand and Product, Innovation

Whirlpool Corporation’s innovative products for 2023: washer for pets with a dog in the photo, a washer with 2-in-1 agitator, a third rack dishwasher, and an oven with air fryer, announcing one of Furtune’s most innovative companies sin 2023

Whirlpool Corporation has been recognized by Fortune as one of America’s Most Innovative Companies in 2023. The inaugural list celebrates companies that have demonstrated success across three areas, including product innovation, process innovation, and innovation culture.

“A spirit of innovation is embedded in our culture and we are proud to be named one of Fortune‘s most innovative companies,” said Marc Bitzer, chairman and CEO of Whirlpool Corp. “With a diverse and growing product portfolio across several trusted U.S. brands, this recognition is a testament to our employees who work tirelessly to create innovative solutions that improve life at home for consumers.”

The best and the brightest engineers and designers, collaborating globally on shared appliance architectures, have been able to unleash innovation in its truest sense and help shape the modern home.”
For more than 111 years, Whirlpool Corp.’s innovation strategy has changed how people around the world care for their families and loved ones — from cooking and entertaining to laundry and household chores. The company is committed to sustainable manufacturing, environmental and social responsibility, leading-edge design, unparalleled craftsmanship, and leveraging emerging digital technologies.

“From the first electric wringer washer in 1911 to our current line-up of leading-edge home appliances, we are obsessed with developing technology that is purposeful in saving time or eliminating work for consumers,” said Roberto H. Campos, senior vice president of Whirlpool Corp.’s Global Product Organization. “The best and the brightest engineers and designers, collaborating globally on shared appliance architectures, have been able to unleash innovation in its truest sense and help shape the modern home.”

In the past two years, Whirlpool Corp. launched several innovative new products, including the Maytag® Pet Pro System, the Whirlpool 2 in 1 Washer with Removable Agitator, a revolutionary large capacity third rack for dishwashers, and added air fry functionality to select smart ovens via an over-the-air update. The company also announced it plans to bring Matter support to its smart appliance models and continues to find innovative solutions to accelerate its ESG strategy, most recently announcing Zero Waste to Landfill Gold or Platinum status (self-certification) at 29 of 29 large manufacturing sites worldwide.

To develop the list, Fortune partnered with Statista Inc., a leading provider of market and consumer data, to survey internal and external stakeholders who have direct exposure to company processes, products, and culture. Statista also worked with LexisNexis PatentSight and used their platform to analyze the quantity and value of a company’s patents.

Whirlpool awards

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Whirlpool brand received the “Eletto Prodotto dell’anno 2023” award, the Italian recognition by Prodotto dell’Anno which selects the best products on the market based on innovation and consumer satisfaction.

“We are proud to have received the award in the laundry and cooking categories. This recognition testifies to the quality of Whirlpool appliances and confirms consumer’s trust and satisfaction with the brand, which is constantly striving to offer the best home living experience,” said Roberto Grimaldi, marketing director of Whirlpool Italy.

Alessandro Perucchetti, former vice president of Whirlpool in Europe, has been appointed President of US Operations

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Alessandro Perucchetti, Bocconi graduate, master at the Kellogg School of Management, has been appointed President of US Operations of Whirlpool and joined the Executive Committee of Whirlpool.

Perrucchetti began his career in 2002 in the trade marketing of Whirlpool Italy and held senior positions first in Whirlpool EMEA and then in North America. His last role was from January 2022 to February 2023 as vice president of market operations, product marketing and consumer service in Europe.

Whirlpool joining U.N. Global Compact’s CEO Water Mandate wil

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Whirlpool CEO and Chairman Marc Bitzer has signed a commitment to join the U.N. Global Compact’s CEO Water Mandate, a platform for business leaders to advance water stewardship. Endorsing companies commit to actions that conserve water across six key areas, including our operations and products, supply chain, watershed management, collective action, public policy, community engagement and transparency. “Joining the U.N. Global Compact’s CEO Water Mandate will help to guide us in driving business awareness and actions in support of achieving some of our key Sustainable Development Goals,” said Whirlpool Corp. Chairman and CEO Marc Bitzer. “We’re proud to join this compact along with more than 230 other endorsing companies, and we look forward to continuing the implementation of changes in our operations worldwide that will conserve water for current and future generations.”

Whirlpool anouce delivery surcharge for independent retailers

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Whirlpool UK is planning to introduce “a nominal delivery surcharge” for all small trade units going to independent electrical retailers.

We understand that this change applies to all Whirlpool Group products, including the Hotpoint and Indesit brands. At the end of last month,
retailers received a plan update letter from Whirlpool

Forbes names Whirlpool Corporation One of ‘America’s Best Large Employers’

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Whirlpool Corporation (NYSE: WHR) announced today it has been named to Forbes’ 2023 list of the “America’s Best Large Employers.” This marks the second consecutive year that Whirlpool has appeared on the annual list, which recognizes 500 companies across 45 different industries that are admired for their commitment to support and empower their U.S. workforce.

Whirlpool Corporation Named One of Fortune’s World’s Most Admired Companies

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Whirlpool Corporation has been recognized by Fortune as one of the World’s Most Admired Companies for the thirteenth consecutive year. The list includes the most respected and reputable companies around the world, as ranked by peers within their respective industries.

This recognition is only possible due to hard work and collaboration by our people and their commitment to improving life at home for consumers around the world.”
“We feel incredibly honored to once again be recognized by Fortune as one of the most admired companies,” said Marc Bitzer, Chairman and CEO of Whirlpool Corporation. “This recognition is only possible due to hard work and collaboration by our people and their commitment to improving life at home for consumers around the world.”

Whirlpool production hit

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Whirlpool’s production volumes took a 5% hit in Q4 because of a “one-off” disruption at an unnamed supplier that has since been resolved, CFO Jim Peters told investors Tuesday.
Peters described the firm as a “critical supplier providing a common platform of parts for multiple manufacturing locations and products.”
The issue was fixed in mid-January, but the finance chief noted that there were confidential “ongoing discussions” with the supplier, which prevented Whirlpool from sharing additional details about the disruption.Supply Chain Dive
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DIVE BRIEF
Whirlpool’s production takes a hit after supplier disruption
Published Feb. 1, 2023
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Ben Unglesbee
Senior Reporter
The Whirlpool logo is seen on a display of clothes washers and dryers
The Whirlpool logo is seen on a display of clothes washers and dryers. The appliance maker’s profits took a $100 million hit after an interruption at a key supplier. Justin Sullivan via Getty Images
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Dive Brief:
Whirlpool’s production volumes took a 5% hit in Q4 because of a “one-off” disruption at an unnamed supplier that has since been resolved, CFO Jim Peters told investors Tuesday.
Peters described the firm as a “critical supplier providing a common platform of parts for multiple manufacturing locations and products.”
The issue was fixed in mid-January, but the finance chief noted that there were confidential “ongoing discussions” with the supplier, which prevented Whirlpool from sharing additional details about the disruption.

Dive Insight:
While Whirlpool did not disclose specifics, the interruption at the supplier took a toll on the home appliance company’s sales. Net sales fell 15.3% in Q4 and organic sales declined 10.8%, which the company attributed to the supply chain issues.

The disruption, coupled with a previously announced production reduction, also led to a $100 million hit to the company’s profits, CEO Marc Bitzer said on the earnings call.

The hiccup comes after Whirlpool spent two years working to make its supply chain more efficient and resilient amid the many challenges of the pandemic era.

In that time, the company slashed its active parts from 110,000 to 70,000 to reduce complexity in its supply chain, Bitzer said. He added that in the medium-term, Whirlpool management sees a path to getting that number down even further, to “well below” 50,000 parts.

The appliance maker has also “significantly expanded” into dual sourcing, putting priority on high-value strategic parts and components, according to Bitzer.

“But we still have a tail end of lower value parts that are single source,” the CEO said. “This will be our focus in the coming months and years.”

Looking to the year ahead, Bitzer said that “flawless execution of our supply chain” is one of Whirlpool’s top operational priorities, along with “very significant” targets for cutting costs. The company is eyeing $800 million to $900 million in potential cost reductions.

The two goals are closely related. As part of the cost cuts, Whirlpool expects to remove over $250 million in what Bitzer described as “premium costs and inefficiency in our supply chain operations.”

The company also expects cost reductions in raw materials of up to $400 million, with some help from easing inflation.