As part of a planned transition, Whirlpool has named its new chief financial officer.
Whirlpool Corporation of Benton Harbor said today that Jim Peters will take over the CFO and EVP roles from Larry Venturelli, beginning Aug. 1.
Venturelli, who has been with Whirlpool for 15 years, plans to retire from the company in early 2017.
"Jim Peters' global experience and strong financial acumen position him well for his new role," said Jeff Fettig, chairman and CEO, Whirlpool Corporation.
Peters' financial background
Peters was appointed VP, corporate controller and chief accounting officer in early 2015, having previously served as CFO and VP of Whirlpool Corporation's North American region since 2010.
As CFO for an organization of more than 300 people, Peters was responsible for financial reporting and internal controls, as well as delivering the overall North American business results.
He also oversaw all regional operational and strategic planning, budgeting and forecasting activities.
Peters joined Whirlpool in 2004, holding director positions in various departments, until he was appointed as CFO and VP of Whirlpool EMEA, or Europe, Middle East, and Africa, in 2008.
Prior to joining the company, he was a manager of internal audit for Limited Brands and a consulting manager at Ernst & Young.
Peters holds a bachelor's degree in accounting and business administration from the University of Kansas and an M.B.A. in finance from Indiana University.
Venturelli was named executive CFO and VP and a member of the Whirlpool Executive Committee in 2012.
He plans to serve on outside boards and spend more time with his family following his retirement.
“During his long tenure at Whirlpool, Larry has played an integral role in helping to expand the company's global reach through the successful acquisitions of Indesit in Europe and Hefei Sanyo in China,” Fettig said. “Under his leadership, the organization continued to attract and develop a team of great financial talent, delivering strong financial controls and reporting systems, as our sales have grown in every market around the world.”