When contacted, Karwal confirmed that he had put in his papers. He said that none of the other top officials of the company are quitting.

Karwal was earlier with Philips India followed by LG and is reputed to have turned around the fortunes of Philips India. Known as a turnaround artist, Karwal was unable to turnaround AB Electroux which is said to be in a "quit India" mode. Electrolux is at present selling its three manufacturing plants in Shahjahanpur (refrigerators), Nagpur (frost-free refrigerators) and Boutibori (washing machines). There have been unconfirmed report that Videocon is taking over the manufacturing facilities of the Swedish company.

Ever since it set up operations in India AB Electrolux has been facing problems. It has had a succession of top professionals quitting. Over the last few months, its been a battle of nerves between the top management of Electrolux India and the Stockholm-based parent AB Electrolux.