Electrolux (ELUXY) named Keith McLoughlin as president and CEO after Hans Stråberg notified the board that he wishes to leave the company.

McLoughlin will succeed Stråberg on January 1, 2011, Electrolux said in a statement. McLoughlin is currently in charge of R&D, Manufacturing and Purchasing for Electrolux Major Appliances. He was previously head of Electrolux Major Appliances North America.

"After nine fantastic years as President and CEO, 13 years in Group Management and 27 years in the company, I want to do something new," Stråberg said. "I consider my mission accomplished."