By Nathan Allen 
 

Thyssenkrupp AG (TKA.XE) said Friday that it has appointed Peter Walker as chief executive of its elevator-technology business.

Mr. Walker is already a member of the elevator-technology board and previously served as the unit's chief operating officer. He succeeds Andreas Schierenbeck as CEO, who left the company in November, Thyssenkrupp said.

Elevator technology has long been the group's most profitable unit but margins have recently come under pressure amid high raw materials costs and currency headwinds.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

December 14, 2018 04:00 ET (09:00 GMT)