Year of Transformation for Panasonic: New CEO, Structure Position Company for Sharpening Areas of Focus

The next twelve months will be a year of transformation for Panasonic Corporation--commencing with a change of leadership this month and culminating with the transition to a holding company in April 2022.
 
After guiding Panasonic's return to profitability and positioning the group for sustainable growth under a new business model, Kazuhiro Tsuga stepped down as CEO on April 1. His successor is Yuki Kusumi, who has an R&D background and led Panasonic's television, white goods and automotive component businesses. Following the annual general shareholders' meeting (AGM) on June 24, Kusumi is expected to also be confirmed as president and representative director while Tsuga will become chairman of the board.