Panasonic Names Tsuga New President, Replacing Ohtsubo
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Panasonic Corp., Japan’s largest appliances maker, named Kazuhiro Tsuga as president three weeks after forecasting a record net loss because of slowing demand for TVs and production halts caused by floods in Thailand.
Tsuga, 55, will replace Fumio Ohtsubo, 66, who will become chairman, the Osaka-based company said in a statement today. Tsuga, now a senior managing director and president of the audio-visual products unit, will take over the presidency after getting shareholder approval at June 27 general meeting.