STOCKHOLM, April 25 (Reuters) - Sweden's Electrolux

, the world's second-biggest appliances maker, said on

Thursday its CEO of eight years Jonas Samuelson will step down

on Jan. 1, 2025.

Electrolux said in a statement Samuelson had informed the

company of his decision to also leave the board, which will now

launch a search for a successor.

"I currently have no plan to take on any other operational

role after leaving the group and will be available to support

the company and my successor also after Jan. 1, 2025," Samuelson

said in the statement, without providing any details.

Electrolux, with many products aimed at premium users,

has been struggling to compete with lower-price rivals such as

China's Midea.

In February Electrolux predicted that consumer sentiment

would stay weak in early 2024, with shoppers preferring cheaper

options, but that demand in its major markets would stabilise

throughout the year.

Its North America division has struggled with delays in

reaching full capacity at a new appliance factory, weak demand

and intense price competition.

Electrolux, whose biggest rival is Whirlpool, is due

to report quarterly results on Friday.