Jeff M. Fettig

Last updated
Jeff M. Fettig
Jeff M. Fettig.jpg
Born1957 (age 66–67)
Alma mater Indiana University (1979)
Indiana University's Kelley School of Business (1981)
OccupationBusiness executive
Employer Dow Inc
Known forformer Whirlpool Corporation chair and CEO
Title Company director
Website Fettig at Dow.com

Jeff M. Fettig (born 1957 [1] [2] ) is an American businessman. He is the former chairman and chief executive officer of the Whirlpool Corporation and serves on the board of directors for Dow Inc., the Indiana University Foundation, and is a PGA REACH Trustee.

Contents

Early life

Fettig was born in 1957. [1] [2] He grew up on a farm in Tipton, Indiana, with eight siblings. [3] He graduated Indiana University, where he earned a bachelor of science in finance in 1979 and a master in business administration from its Kelley School of Business in 1981. [4] [5]

Career

Fettig joined the Whirlpool Corporation as a marketing management trainee in 1981. [4] He was its executive vice president and the president of Whirlpool Europe and Asia, from 1994 to 1999, then its president and chief operating officer, from 1999 to 2004. [4] [6] Fettig was chairman and CEO, from 2004 to 2018, [4] earning $14.4 million in 2010, [7] and $7.33 million in 2012, [5] and resigning from Whirlpool as of December 31, 2018. [8]

Fettig has served on the board of directors of the Dow Chemical Company since 2003. [9] He is a member of the Business Leaders for Michigan. [10] He serves on the board of governors of the Boys and Girls Clubs of America. [11]

In April 2017, Fettig was criticized by François Ruffin for planning to close down a Whirlpool factory in Amiens, France, and opening a new one in Poland, where salaries are lower, while raising shareholder dividends by 10%. [12] The factory closure became an issue in the 2017 French presidential election, [13] with Marine Le Pen and Emmanuel Macron visiting the factory before the second round. [14]

In October 2017, Fettig was succeeded as CEO by Marc Bitzer; however he kept his role as chairman of Whirlpool, [15] until the end of 2018. [8]

Personal life

Fettig resides in St. Joseph, Michigan. [16] He is a political contributor to the Republican Party. [17]

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References

  1. 1 2 "Jeff M. Fettig's Read-and-React Approach at Whirlpool". The Boston Consulting Group. 2010-01-14. Retrieved 2017-06-18.
  2. 1 2 Andrew Davidson, ed. (3 August 2009). 1000 CEOs . Dorling Kindersley Limited. p.  43. ISBN   978-1-4053-5272-7.
  3. ↑ Crystal, Kim (March 7, 2015). "Whirlpool's Jeff Fettig: Doing the World's Laundry". Barron's. Retrieved April 27, 2017.
  4. 1 2 3 4 "Dow Chemical Co/The (DOW:New York): Jeff M. Fettig". Bloomberg. Retrieved April 26, 2017.
  5. 1 2 "CEO Compensation: #237 Jeff M Fettig". Forbes. Retrieved April 26, 2017.
  6. ↑ Quintanilla, Carl (June 7, 1999). "Whirlpool Taps Fettig as President, Probable Successor to Firm's CEO". The Wall Street Journal. Retrieved April 26, 2017.
  7. ↑ Hagerty, James R. (February 28, 2011). "Whirlpool CEO's Pay Grows". The Wall Street Journal. Retrieved April 26, 2017.
  8. 1 2 "Whirlpool Corporation’s Chairman Jeff M. Fettig to Retire From Company", Whirlpool Corporation, Dec 17, 2018.
  9. ↑ "Board of Directors". Dow Chemical Company. Archived from the original on March 13, 2017. Retrieved April 26, 2017.
  10. ↑ "Members". Business Leaders for Michigan. Archived from the original on April 27, 2017. Retrieved April 26, 2017.
  11. ↑ "Board of Governors". Boys & Girls Clubs of America. Retrieved April 26, 2017.
  12. ↑ Libert, Mikael (April 25, 2017). "Amiens: Whirlpool ferme son usine et augmente ses actionnaires". 20 Minutes. Retrieved April 26, 2017.
  13. ↑ "WHIRLPOOL: PENDANT QUE LES SALARIÉS SONT EN GRÈVE À AMIENS POUR ÉVITER LA DÉLOCALISATION, LES DIVIDENDES DE L'ACTION S'ENVOLENT". France Soir. March 25, 2017. Archived from the original on April 27, 2017. Retrieved April 26, 2017.
  14. ↑ Rose, Michel (April 26, 2017). "French presidential foes take spin battle to tumble-drier factory". Reuters. Archived from the original on April 26, 2017. Retrieved April 27, 2017.
  15. ↑ Sheetz, Michael (June 20, 2017). "Jeff Fettig to step down as CEO of Whirlpool, will remain chairman". CNBC. Retrieved August 15, 2017.
  16. ↑ "Contributors, 2016 cycle". OpenSecrets.org. Retrieved April 26, 2017. FETTIG, JEFF M MR ST JOSEPH, MI 49085
  17. ↑ "Jeff Fettig Political Campaign Contributions 2014 Election Cycle". Campaignmoney.com. Retrieved April 26, 2017.
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