Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On August 17, 2021, the Board of Directors of Whirlpool Corporation (the
"Corporation") elected Joseph T. Liotine, 48, to the position of President and
Chief Operating Officer, effective September 1, 2021. In this position, he will
serve as the principal operating officer of the Corporation. On August 26, 2021,
the Corporation announced the election of Mr. Liotine to the position.
Mr. Liotine has served as Executive Vice President and President for the
Corporation's North America region since 2014. Previous to this executive
officer position, Mr. Liotine was President of U.S. Operations. He has held a
variety of roles with increasing responsibilities since joining the Corporation
in 2004. Prior to joining the Corporation, Mr. Liotine held positions within
Quaker Oats and PepsiCo.
Mr. Liotine's annual base salary in this position will be $850,000. His target
award under the Executive Performance Excellence Plan, the Corporation's annual
incentive plan, will be 130% of base salary. His target award under the
Strategic Excellence Program, the Corporation's long-term incentive compensation
program, will be 450% of base salary.
Website Disclosure
We routinely post important information for investors on our website,
whirlpoolcorp.com, in the "Investors" section. We also intend to update the Hot
Topics Q&A portion of this webpage as a means of disclosing material, non-public
information and for complying with our disclosure obligations under Regulation
FD. Accordingly, investors should monitor the Investors section of our website,
in addition to following our press releases, SEC filings, public conference
calls, presentations and webcasts. The information contained on, or that may be
accessed through, our webpage is not incorporated by reference into, and is not
a part of, this document.
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