LG Electronics Appoints New CEO for Automotive Lighting Subsidiary ZKW
[Asia Economy Reporter Hyunseok Yoo] LG Electronics' automotive lighting business subsidiary in Austria, ZKW, recently announced on the 19th the appointment of Wilhelm Steger as the new Chief Executive Officer (CEO).
CEO Steger has worked at companies such as Siemens, Continental, and Delphi. He is a consulting expert with over 25 years of management experience in the automotive industry.
CEO Steger stated, "We will secure a stable growth foundation as a premium lighting system supplier."
LG Electronics established the VS Business Division (formerly VC Business Division) in 2013 to foster its automotive parts business as a future growth engine. In 2018, it acquired ZKW for approximately 1.4 trillion KRW.
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ZKW supplies premium headlamps to automakers such as BMW, Mercedes-Benz, Audi, and Porsche. By production volume, it ranks among the top 5 in the global premium headlamp market.
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