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Wednesday, September 15, 2021

Whirlpool Research Report

About Company

The Whirlpool Corporation is a US-based international maker and seller of household appliances. The head office of Whirlpool is located in Benton Charter Township, Michigan, USA.

The Whirlpool Corporation is a Fortune 500 organization and features yearly revenue of around USD 21 Billion. It recruits 92,000 people and has over 70 technology R&D and manufacturing hubs across the globe.

In the US, less than 10% of its workers are deployed.

The Whirlpool Corporation promotes its individual showcase brand Whirlpool, together with other brand names also including the following:

  • KitchenAid 
  • Maytag
  • Amana 
  • JennAir 
  • Inglis 
  • Gladiator GarageWorks 
  • Brastemp 
  • Estate 
  • Ignis 
  • Bauknecht 
  • Consul
  • Indesit 

The official website of the Whirlpool Corporation cites Affresh, Diqua, Yummly, and Acros brand names as well.

There are nine manufacturing hubs of the company in the United States and they are: 

  • Tulsa, Oklahoma 
  • Amana, Iowa 
  • Clyde, Ohio 
  • Cleveland, Tennessee 
  • Greenville, Ohio
  • Findlay, Ohio 
  • Ottawa, Ohio 
  • Marion, Ohio 
  • Fall River, Massachusetts

The stocks of the Whirlpool Corporation are publicly traded on the New York Stock Exchange (NYSE) with the ticker symbol WHR. It is also a component of the S&P 500 Index. 


Who are the founders of Whirlpool Corporation?

The originators of the Whirlpool Corporation are Louis Cassius Upton and Emory Upton, his uncle. They set it up with the help of Lowell Bassford, a capitalist on November 11, 1911.  

Key brands under Whirlpool

The key brands that made Whirlpool globally famous are listed below:

  • Affresh Washer Cleaners
  • Acros – México
  • Bauknecht
  • Amana
  • Challenger – Colombia
  • Brastemp – Brazil
  • Diqua – China
  • Consul – Brazil
  • EveryDrop
  • Estate
  • Hefei Sanyo -China
  • Gladiator GarageWorks
  • Ignis – Italy 
  • Hotpoint – Europe
  • Inglis (the United States and Canada)
  • Indesit
  • KitchenAid
  • Jenn-Air
  • Maytag
  • Laden – France
  • Privileg
  • Polar
  • Royalstar – China
  • Roper
  • Whirlpool
  • Stinol
  • Yummly

Jointly, the United States manufacturing hubs represent a minimum of 5% of the workforce of the firm.

How many people work for Whirlpool?

As of 2020, the company features a workforce of 78,000 people.  

Collaboration with NASA (National Aeronautics and Space Administration)

The research labs of the Whirlpool Corporation earned a deal from the National Aeronautics and Space Administration for formulating the food and waste material handling arrangement for Project Gemini.

Subsequently, in 1968, the Whirlpool Corporation produced freeze-dried ice cream in line with an agreement with NASA for the undertakings for Apollo.

Getting back to work with NASA in the Advanced Exploration Systems Logistics Reduction and Repurposing venture of the Johnson Space Center in 2021, the company designed a nil-gravity refrigerator in collaboration with Air Squared and Purdue University to explore extensive food warehousing for outer space research.

Special circumstances

  • Crosley-labeled top-load washing machines have been manufactured for Crosley Appliances
  • Admiral-labeled gadgets are marketed particularly via the Home Depot. Earlier, the brand was merchandized at Montgomery Ward outlets as well till the time the firm shut down its operations in 2001.
  • Falabella-labeled gadgets have been manufactured for Falabella (exclusively in South America)
  • Factory Specification Parts (FSP)
  • IKEA-labeled gadgets were manufactured for IKEA (Exclusively North America)
  • Kenmore-labeled gadgets are manufactured for Sears

Whirlpool Worldwide Locations

North America

There are 9 manufacturing hubs in North America and 3 in Mexico. The brands available in North America are KitchenAid, Whirlpool, JennAir, Maytag, Yummly, Amana, Gladiator, Swash, affresh, and everydrop. The brand names in Mexico include KitchenAid, Whirlpool, Acros, and Maytag.

  • Manufacturing – Cleveland, TN  
  • Worldwide headquarters – Benton Harbor, MI  
  • Manufacturing – Fall River, MA  
  • Manufacturing – Clyde, OH  
  • Manufacturing – Greenville, OH 
  • Manufacturing – Findlay, OH 
  • Manufacturing – Ottawa, OH 
  • Manufacturing  – Marion, OH 
  • Canada Principal Office – Mississauga, Ontario, Canada 
  • Manufacturing – Tulsa, OK 
  • Manufacturing – Celaya, MX 
  • San Pedro Garza García, Nuevo Leon, MX | Mexico head office
  • Manufacturing – Monterrey Horizon, Supsa, MX  
  • Manufacturing – Ramos, MX 

EMEA (Europe Middle East and Africa)

Europe, Middle East, and Africa recruit around nineteen thousand employees and run business activities in eleven technology R&D and manufacturing hubs in 5 nations. The territory sells KitchenAid, Whirlpool, Bauknecht, Hotpoint, as well as Indesit branded products.

  • Manufacturing – Carinaro, Italy 
  • Pero – Milan, Italy
  • Manufacturing – Comunanza, Italy  
  • Manufacturing – Cassinetta, Italy  
  • Manufacturing – Siena, Italy  
  • Manufacturing – Melano, Italy  
  • Manufacturing – Radomsko, Poland  
  • Manufacturing – Lodz, Poland  
  • Manufacturing – Lipetsk, Russia  
  • Manufacturing – Wroclaw, Poland  
  • Manufacturing – Manisa, Turkey  
  • Manufacturing – Poprad, Slovakia  

Latin America

There are 6 manufacturing hubs in Latin America and they get Brastemp, Whirlpool, KitchenAid, and Consul branded products to lots of families. Brazil individually houses 3 manufacturing hubs, four technology hubs, 2 administrative bureaus, and twenty-three labs.

  • Manufacturing  – Joinville, Brazil  
  • Latin America head office – Sao Paulo, Brazil  
  • Manufacturing – Rio Claro, Brazil  
  • Manufacturing – Manaus, Brazil  
  • Administrative and manufacturing hub – La Tablada, Argentina  
  • Manufacturing – Buenos Aires, Argentina  
  • Ecuador principal office – Guayaquil, Ecuador  
  • Columbia principal office – Bogota, Columbia  
  • Peru principal office – Lima, Peru  
  • Guatemala principal office – Guatemala City, Guatemala  

Asia

The head office of the Whirlpool Corporation Asia territory is based in Hong Kong. The business is running in 5 blocks; 

  • India 
  • China 
  • Southeast Asia 
  • HTKJ (Hong Kong, Taiwan, Korea, and Japan) 
  • Oceania 

There are six manufacturing hubs, 2 Global Consumer Design Hubs, 2 technology hubs, as well as a countrywide network of service and sales stores across the Asian territory. The local brands of Whirlpool in Asia include KitchenAid, Whirlpool, Ariston, Bauknecht, Diqua, and Indesit.

  • Hong Kong principal office and Asian central office- Hong Kong, China 
  • Manufacturing – Hefei, China  
  • Manufacturing – Shunde, China  
  • India head office – New Delhi, India  
  • Manufacturing – Faridabad, India  
  • Manufacturing – Ranjangaon, Pune, India 
  • Manufacturing – Pondicherry, India  
  • Oceania principal office – Melbourne, Australia  
  • Southeast Asia central office – Singapore  

Whirlpool Corporation Management

Marc Bitzer

Marc Bitzer is the Chairman and CEO of the Whirlpool Corporation. He was nominated as the chief executive officer of the company with effect from October 2017. Marc was also chosen as the Chairman of the Board of Directors with effect from 1st January 2019. 

In 1999, Marc became a part of Whirlpool Europe as VP of the Bauknecht brand company. In 2000, Bitzer was nominated as the senior VP of the marketing, sales, and services division of Whirlpool Europe. Subsequently, he earned the berth of Whirlpool Europe President in 2006 January. From 2009-2013, he kept on working as the President of US business operations and President of Whirlpool North America. Afterward, Marc got the appointment of Vice-Chairman which involved inclusive governance of Europe, North America, Africa, and the Middle East (EMEA).

Before becoming a part of Whirlpool Europe, Marc had an 8-year stint with the Boston Consulting Group (BCG) in Toronto and Munich, and in 1999 was nominated VP of the same.

Bitzer attained both his Master of Business Administration degree and Ph.D. from the Switzerland-based St. Gallen Graduate School of Business, Economics, and Law.

Dr. Marc Bitzer is a part of the BMW AG Supervisory Board, nominated in 2021 May as well. 

Joseph T. Liotine

Joseph T. Liotine serves as the President and Chief Operating Officer (COO) of the Whirlpool Corporation. He was nominated in both these two positions in 2021 September. In this fresh responsibility, Joseph will have to handle the worldwide business activities of Whirlpool. Of late, Joseph acted as the President of the North America Territory of Whirlpool, Global Information Systems, and Global KitchenAid Small Domestic Appliances sector and Executive Vice President of the corporation. In 2014 November, Joseph was nominated as the President and Executive Vice President of the North America Territory of Whirlpool. 

Before this assignment, Joseph served as the President of US Operations and occupied an assortment of positions with growing duties like the Vice President of Marketing for the North America Territory where Liotine headed: Digital Marketing, Brand Management, Customer Perceptions, and Product Marketing.

In 2004, Joseph commenced his professional life with the Whirlpool Corporation, working for the firm in a range of policymaking, sales, and marketing positions counting a 3-year stint of handling the Canada business ahead of getting back to the United States.

Before commencing his career with the Whirlpool Corporation, Joseph was employed with PepsiCo and Quaker Oats.

Joseph has a bachelor’s degree from Illinois State University with a concentration in International Business, Finance, and Economics and also an MBA degree from the Booth School of Business at the University of Chicago with a focus on Entrepreneurship, Marketing, and Finance.

Jim Peters

Jim Peters serves as the Chief Financial Officer (CFO) and Executive Vice President of Whirlpool with effect from August 2016.

Peters got the appointment as the chief accounting officer, business controller, and vice president at the beginning of 2015 earlier having acted as Chief Financial Officer and Vice President of the North American Territory of Whirlpool Corporation from 2010.  

As the Chief Financial Officer for an establishment recruiting more than three hundred employees, Peters had the duty of in-house controls and financial reporting together with supplying the total North America operation outcomes.

Peters supervised all territorial budgeting, functional/tactical preparation, and estimating operations as well.

Jim became a part of the organization in 2004, bearing director roles in different sections till the time he got the appointment in 2008 as the Chief Financial Officer and VP of Whirlpool EMEA (Europe, Middle East, and Africa) territory.

Before becoming a part of the Whirlpool team, Jim served as a Consulting Manager for Ernst & Young and Internal Audit Manager for Limited Brands. Jim holds a bachelor’s degree in Business Administration and Accounting from the University of Kansas and has an MBA degree from Indiana University in Finance.

Whirlpool Financial Report (Q2, 2021)

(All values are in Million Dollars $ barring per share data)

Whirlpool Financial report

Whirlpool Corporation Stock Performance  

On September 10, 2021, the Whirlpool Corporation (WHR) closed trading at New York Stock Exchange at $215.74 at 4:03 pm EDT (Eastern Daylight Time).

Whirlpool Financial Analysis

Whirlpool Awards and Recognitions

The Whirlpool Corporation is an award-winning recruiter, responsible business entity, admired throughout the world for its leadership and famed for bettering people’s lifestyles.

  • The company achieved a cent percent score on the 2021 Disability Equality Index  
  • Margaret Graham of the Whirlpool Corporation got the STEP Ahead Award that distinguishes Women Emergent Leaders for Brilliance In Manufacturing
  • Whirlpool Corporation Achieved #5 Rank on “50 Best Companies to Sell For” released by Selling Power in 2021 
  • Pam Klyn, the Vice President of Global Product Organization, the Whirlpool Corporation instated into Michigan Technological University Mechanical Engineering Academy 
  • Whirlpool Corporation achieves recognition from Forbes magazine as one of the Best Companies for Fresh Grads in the US 
  • Getting the fun of culinary to washing: the domestic innovative team of the KitchenAid brand attains Gold Reggie Award
  • Whirlpool Corporation branded products from different places across the world became triumphant at the 2021 Red Dot and iF Design Awards
  • The KitchenAid and Whirlpool brands of the Whirlpool Corporation earn Shorty Awards for creating outstanding content for assisting customers to deal with throughout “the year of COVID” 
  • U.S. News & World Report ranks 3 Whirlpool Brand Laundry Creations among The Best of 2021
  • U.S. News & World Report Ranks Maytag Branded Refrigerator as number one in the category of the ‘Best of 2021’ 
  • Whirlpool of India ranks among the best places to work in India in the manufacturing
  • U.S. News & World Report ranks Whirlpool Brand among The Best Products of 2021

The viewpoint of Whirlpool Corporation 

The ambition of the Whirlpool Corporation is to be the best in the domain of washing and the kitchen. The company constantly pursues its dreams of bettering life at home. Their objective is to achieve loyalty and generate demand for their products in a digital environment. Their values include esteem, honesty, inclusion and variation, and the spirit of succeeding.     

Disclaimer: This article is an academic purpose writeup for the gain of students and researchers and it is recommended that you should not take it as investment guidance. It is always reasonable to consult your investment advisor when intending to make any type of investment.


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Kiara Dawson
Kiara Dawson comes from an Engineering background, with a specialization in Information Technology. She has a keen interest and expertise in Web Development, Data Analytics, and Research. She trusts in the process of growth through knowledge and hard work.

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