Posted 23rd Jan 2019

Haier Europe CEO to head up Candy operations

23rd January 2019 - 14:29pm
career advice, haier, candy, group, appliance, europe, kbb, kbbdaily

Haier Europe CEO Yannick Fierling, pictured, will head up the operations of the former Candy Hoover Group, which was acquired by the Qingdao, China-headquartered company for €475m in October last year.

The announcement comes as the group marked the completion of the acquisition of Candy – now a wholly owned subsidiary of Haier – with a celebration at Haier’s new European base in Brugherio, Italy base. The occasion was led by Fierling, Haier chairman Haishan Liang, and former Candy owners Beppe and Aldo Fumagalli, who have both been named non-executive directors of Haier Europe.

Haier said its “vision” is to become the “global leader” in the internet of things – IoT – for smart home appliances. The group added that collectively, Haier and Candy’s share of the global major appliances market reaches 15.1%.

The newly combined group also holds a 22.7% share of the global freestanding refrigeration appliance market, and a 19.8% share in the home laundry appliance market. Its combined revenue ranks fifth in western Europe, with Haier adding that it is aiming to be in the top three by 2022.

“Candy represents a major acquisition, and it’s a terrific asset for the growth of our combined group and will bring great value to our employees, customers, business partners and shareholders,” said Fierling. “Europe is one of the key markets in Haier's global brand strategy and this combination will accelerate Haier's positioning in the region.

“I look forward to working closely with Candy's experienced management team as we share the commitment to innovate and to provide customized solutions to introduce the experience of the smart universe into our customers’ life.”


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