Letter From Our Chairman A Message from Jeff Fettig,
Chairman of the Board

I began my career in 1981 as an operations associate at Whirlpool. That year, the company celebrated its 25th anniversary as a full line manufacturer of major home appliances and reported a then-record $2.4 billion in net sales, nearly all of which came from the United States.

In the last 36 years, many things have changed. Today, more than half of our global sales come from outside the United States. We have an industry-leading brand portfolio that delivered more than $21 billion in revenues this year across our major appliance and adjacent businesses. Our employee base is more diverse now than ever, and our commitment to sustainability and protecting our natural resources has never been greater.

Yet, many things have not changed. Whirlpool Corporation still manufactures great products. While we have expanded into new product categories and serve new geographies, we are still a consumer products company that solves everyday problems in homes throughout the world. We continue to leverage our legacy of innovation as we invest in new and emerging technologies, including the shift to digital and connected appliances, and are well-positioned to continue delivering incredible care and value to consumers.

Who we are has also not changed. The core values and leadership principles that made us industry leaders continue to guide our actions and decision making. We are motivated by the spirit of winning while steadfastly believing that “there is no right way to do a wrong thing.”

Achieving the Vision: Our Progress


Focused on margin expansion
and cash generation


30% larger global platform
with compelling brand and
product innovation

Beyond 2018

Unique global strategic position
delivering further margin expansion
and strong cash conversion

Our obligation to you, our shareholders, is to do all of these things profitably. Your Board continually assesses Whirlpool Corporation’s long-term strategy, and many of the Board’s strategic discussions are focused on how best to allocate resources to drive differentiated results. The members of the Board bring a broad range of skills and experiences, and each and every Board member acts as a shareholder advocate. As Whirlpool continues to grow, invest in new technologies and expand its businesses throughout the world, you should be confident that the Board is having in-depth and frequent discussions with our executive team focused on delivering consistently strong financial results and sustainable long-term value.

The opportunity to lead Whirlpool has been both an honor and a privilege. During my time as CEO, we achieved significant milestones as a company, thanks to the great work of our employees throughout the world. I am very proud of the Whirlpool team, and their dedication has led to the success that we have all achieved.

This year, I transitioned from my role as CEO, and the Board appointed Marc Bitzer as the eighth CEO in Whirlpool Corporation’s 106-year history. Marc has gained a deep understanding of our global business during his 18-year tenure at Whirlpool. He has personally led regional operations in EMEA and North America, and most recently led our global operations as Chief Operating Officer. The Board and I could not be more confident in Marc, and believe he is the right person to lead our company to continued success.

Thank you for your ongoing support of our company. We will continue to lead the global appliance industry, delivering innovative products to consumers and strong levels of return to shareholders. While there will be more changes ahead, we have the right plans and the best team to continue delivering strong results. I have never been more confident in the future of Whirlpool Corporation.

Jeff M. Fettig
Chairman of the Board