Mihailescu joined Indesit in 2003 and before being appointed country manager he served as sales manager.
The representatives of the company could not be reached for comment by the time the story was ready for posting. Marius Mihailescu’s LinkedIn profile shows him to have got the new position at the end of 2012.
Before joining Indesit, he had worked as retail division manager consumer electronics for Philips. He graduated from the Bucharest University of Economic Studies (ASE) and worked for Colgate-Palmolive for almost two years, until 1998.
Indesit entered the Romanian market in the early nineties, after first operating via importers and then opening its own office in 1996, which handles marketing, logistics and service.
It continued to work with importers for its Indesit (medium priced products) and Hotpoint (premium products) and does not have a subsidiary registered in Romania, therefore it does not report financial results to the Finance Ministry.
The latest data about its revenues date back to 2008, when they amounted to EUR70 million. In 2009, the revenue halved and in 2011 it reached about EUR30-35 million as calculated by ZF based on the previous figures released by the company.
(English version by Loredana Fratila-Cristescu)