The Angry Angels At Zenith

The Koreans rescued Zenith. Now they want results

Last November, spirits were running high as more than 100 members of Zenith Electronics Corp.'s senior management group gathered in the company cafeteria in Glenview, Ill. LG Electronics Inc., the Korean consumer electronics giant once known as Lucky Goldstar, had just invested $351 million in the company in exchange for a 58% equity stake. Hun Jo Lee praised Zenith's management and singled out Albin F. Moschner, Zenith's CEO and president, for kudos. "It was pretty clear to me they thought very highly of Al," says Gerald M. McCarthy, Zenith's former executive vice-president for sales and marketing, who attended the meeting.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.