Appliance manufacturer Whirlpool Corp. said Wednesday the president of its international division will step down at the end of the year and retire as Whirlpool Latin America board chairman in April.
Paulo F.M.O. Periquito, 63, will be succeeded as Whirlpool International president by Michael A. Todman, currently president of Whirlpool North America.
Periquito has worked for Whirlpool for 14 years, joining the company in 1996 as president of appliances in Brazil. He was named president of the international division in 2007.
Todman, in his new job, will be responsible for businesses in Europe, Latin America, Asia, and the Global Information Systems function. He also will lead global strategic initiatives in innovation and energy efficiency
The company also announced that Marc R. Bitzer, president of U.S. operations, will succeed Todman as president of the North America division.
Whirlpool has 70,000 employees and 67 manufacturing and technology research centers around the world. It makes and sells Whirlpool, Maytag, KitchenAid, Jenn-Air and Amana brands, among others.
Annual sales were about $19 billion in 2008.
Shares rose 5 cents to close at $77.50.