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“It was a character-shaping time. We were counted out by the competition, but we turned it into a success story.”

Last year he even closed the Electrolux plant in his home town of Vastervik, south of Stockholm — a factory he had managed on his way up. Electrolux gave the buildings to the town; production was moved to Hungary.

“So long as you can look yourself in the mirror in the morning, and say you’ve done it in an ethically okay way, then it’s all right,” says Straberg coolly.

That’s his style. Straberg was born a farmer’s son, the youngest of three brothers who all went into business. Pragmatism and a work ethic were paramount. “I tried harder than many,” he says of his rise through the ranks, “and I still think hard work is important.”

Colleagues say he is a good consensus manager, like most Swedes, but add that he has also brought an American-style drive to decision making. Straberg shrugs.

“What people don’t understand with Swedes is that we are as firm as in other countries. It’s no coincidence that we have more multinationals in Sweden per head of population than most other countries. We are underestimated.”

Others suggest that Straberg’s real achievement is keeping Electrolux on an even keel — recording growth of about 3% a year — throughout considerable change.

And it doesn’t stop with relocation. Next year he plans to take the most profitable slice of Electrolux’s empire — its outdoor-equipment division (Husqvarna, Flymo, Weedeater; €3 billion sales) — and give it away to shareholders as a separate company. ()

Some analysts rate the outdoor division as worth more than half the group’s total market capitalisation of €6.1 billion. With Electrolux seeing a drop in operating income this year due to escalating material costs, and rival Whirlpool breathing down its neck, what kind of boss deliberately slices off the best bit of his business? Straberg blinks behind his steel-rimmed glasses. “It has no synergies with the rest of the company, and it has great brands that shouldn’t be mixed up with Electrolux. It is for the benefit of both to be focused.”

With outdoor products hived off, Electrolux can then concentrate on its own branding and innovation, charging higher prices to consumers who will happily spend more on differentiated goods.

But surely the company has too many appliance brands — 20 in Europe alone — and in consequence, a hazy brand proposition? Straberg agrees and in future wants two-thirds of the group’s products to be branded Electrolux. At present it is only 40% (including AEG Electrolux). But in 2002 it was just 15%, he says, so give him time.

As for the brand proposition: “We are positioning it as a thoughtful design innovator that makes life easier and more enjoyable.”