The move comes a month after the Swedish company's bid to take over the appliance division of General Electric failed.
The US Justice Department opposed the USD 3.3 billion acquisition, saying it would harm competition.
In a statement today, McLoughlin said that with a successor lined up, "it is now time for me to pass the baton and return to my family in the US"
Samuelson will take over as CEO on February 1.
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