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Technology Stocks : Zenith - One and Only -- Ignore unavailable to you. Want to Upgrade?

To: John Kriedel who wrote (3975)	1/13/1998 4:17:00 PM
From: Robert T. Tasedan	Read Replies (2) \| Respond to of 6570

Right at close 16:00p.m.new CEO from News Allert: Zenith Names Gannon as New CEO PR Newswire - January 13, 1998 16:00 ZE %CPR %PER V%PRN P%PRN Senior GE Executive to Lead Zenith's Turnaround GLENVIEW, Ill., Jan. 13 /PRNewswire/ -- Zenith Electronics Corporation (NYSE: ZE) today named Jeffrey P. Gannon president and chief executive officer (CEO), effective Jan. 19. Gannon, 46, a senior executive with the General Electric Company (GE), will succeed Peter S. Willmott, 60, who is retiring after serving as Zenith president and CEO since July 1996. Gannon, who has been GE's Corporate Vice President, International Business Development since October, was president and CEO of GE Lighting's Asia Pacific Operations from 1994-97. Gannon's 24-year GE career also includes five years leading the company's expansion into China, Mexico, Central America and Russia; three years overseeing GE Appliance's Consumer Service Marketing and Field Service Operations in the United States; and three years managing GE's Room Air Conditioner and Microwave Oven Operations. HJ Lee, chairman of Zenith's board of directors, said Gannon's leadership skills and background make him "ideally qualified to meet the challenges facing the company today." "Jeff's extensive experience in the consumer products industry and proven track record of strong leadership will transfer perfectly to his new role at Zenith," said Lee, who pledged the full support of Zenith's board of directors and the company's largest stockholder, LG Electronics Inc. Gannon said he is enthusiastic about the "opportunity to reinvent" Zenith. "While I recognize that Zenith faces a number of significant issues, I look forward to working with the management and the board to return the company to financial health and build on Zenith's brand and technology strengths." Gannon will drive Zenith's turnaround efforts, leading the company's senior management team, including its acting Chief Financial Officer Robert N. Dangremond, a turnaround expert who joined the company last week. Zenith Electronics Corporation, based in Glenview, Ill., is a leading developer, manufacturer and marketer of electronic entertainment products. Zenith is a pioneer in the development of digital TV technologies, including high-definition television. (Visit our website at zenith.com.) Zenith's largest shareholder is LG Electronics Inc. (LGE) which, together with its affiliate LG Semicon, currently owns 55 percent of the company's outstanding shares. LGE acquired its majority interest in November 1995 in a $351 million transaction. Zenith continues to operate as a U.S.-based, publicly traded company with shares listed on the New York Stock Exchange. SOURCE Zenith Electronics Corporation /CONTACT: Media, John I. Taylor 847-391-8181, or Investor, Kevin Brindley 847-391-7010, both of Zenith Electronics/ /Photo: newscom.com or NewsCom, 305-448-8411; AP PhotoExpress Network, PRN3; PressLink Online, 800-888-6195/ /Logo available via NewsCom, 305-448-8411 or newscom.com /Web site: zenith.com./ (ZE)