International. During the first quarter of 2012, large technology companies announced a change in their policies. The first was Sony, with the appointment of Kazuo Hirai, who will take over on the first of April. Now the turn is for Panasonic.
The company said Kazuhiro Tsuga, who has been linked for more than 30 years, will take over as the new president to replace Fumio Ohtsubo after six years in the top job.
According to figures revealed by the company, at the end of its fiscal year on March 31, it could accumulate losses amounting to US $ 9,700 million, a figure high due to the purchase of its competitor Sanyo in 2009, of which it has not yet been able to amortize the purchase.
Panasonic's new president is the current head of the company's TV business, a segment whose restructuring also directly influenced the result of the last fiscal year.
During the press conference in which his appointment was announced, he said that "I will not go by volume, I will prioritize profits. I will study ways to get the TV business back to normal in a year or two."
Kazuhiro Tsuga will have to wait until the middle of the year, when the board of directors meets and decides on his appointment, as well as the appointment of the outgoing president, Fumio Ohtsubo, as an advisor to the company, fulfilling an old tradition in Japanese companies.
