New Panasonic boss to speed up decision making

Post by Tom Williams on 29th February 2012 in

New Panasonic boss to speed up decision making

The new boss of appliance manufacturer Panasonic has admitted one of his primary aims will be to get company decisions made more quickly.

Kazuhiro Tsuga, currently a senior managing director at the Japanese firm, will take over as president in June, it was confirmed yesterday. According to a report by news agency Reuters, Tsuga told reporters earlier today: "My main concern is whether I can instil a sense of speed."

Panasonic, which manufactures a wide range of electrical appliances from televisions and fridges to microwaves and smartphones, has already said it is expecting to post a major net loss of 780 billion yen ($9.7bn) for 12 months to the end of March. Industry commentators believe the company will have to move quickly in order to change its fortunes.

According to Reuters, Tsuga has a reputation for making tough decisions and turning businesses around. Panasonic's shrinking television sales is one area that Tsuga will be focussing on.

Data compiled by research firm DisplaySearch has predicted that by 2015, the market for LCD televisions, one that Panasonic dominates, will contract by 8 per cent.

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