Struggling Panasonic (PC) names company veteran Kazuhiro Tsuga to replace Fumio Ohtsubo as...

|About: Panasonic Corp. ADR (PCRFY)|By:, SA News Editor

Struggling Panasonic (PC) names company veteran Kazuhiro Tsuga to replace Fumio Ohtsubo as President, with the latter to become Chairman. Tsuga, who is the head of Panasonic's loss-making TV arm, takes over as the conglomerate heads for a record ¥780B ($9.7B) annual loss and amid a huge restructuring.