Fettig

Whirlpool predicted that its profit margin on ongoing businesses—excluding restructuring costs and tax credits—would rise to between 5.5% and 6% this year from what Mr. Fettig called a "dangerously low" 3% in 2011.

Whirlpool Cost Cuts Help Margins James R. Hagerty 2012

The present value of accumulated pension benefits for Mr. Fettig, who is 54 years old, stood at $11.9 million as of Dec. 31.

Whirlpool CEO's Pay Grows James R. Hagerty 2011

Despite U.S. price increases last year and again in January, "our market share hasn't materially changed," Mr. Fettig said.

Whirlpool Cost Cuts Help Margins James R. Hagerty 2012

Mr. Fettig conceded that Whirlpool had only a "small base" so far in China, with total sales in China and Taiwan last year of around $1 billion, including parts exported there from Whirlpool's Brazilian factories.

Whirlpool Cost Cuts Help Margins James R. Hagerty 2012

As of Wednesday, Mr. Fettig said, the company had enough inventory on hand in the U.S. for about 52 days of sales, down from more than 70 days in last year's second quarter.

Whirlpool Cost Cuts Help Margins James R. Hagerty 2012

"As we expected, we faced a challenging environment during the quarter which resulted in a significant slowing in sales growth compared to the first half of the year," said Chairman and Chief Executive Jeff Fettig said in a statement.

Whirlpool Net Falls 9.2% Bob Tita 2010

"People who are buying are people whose appliances break," Jeff Fettig , Whirlpool's chief executive officer, told investors.

Appliance Sales Tumble James R. Hagerty 2011

CEO Jeff Fettig blessed her approach – and took it one step further.

Finding Their Way to the Fast Track Joann S. Lublin 2012

In response to what Mr. Fettig called "recessionary demand levels" and higher costs, Whirlpool is consolidating production and eliminating its highest-cost factories.

Appliance Sales Tumble James R. Hagerty 2011

"We feel good about the momentum we have in our business," Chief Executive Jeff Fettig , in an interview.

Whirlpool Cost Cuts Help Margins James R. Hagerty 2012