New head at Matsushita. Watching the mid-90s change at the helm at Sony was very interesting, to say the least. Matsushita is a much more conservative company than the outward-looking Sony, though.
Matsushita appoints Kunio Nakamura as new president
By Yoshiko Hara
EE Times
(04/27/00, 3:28 p.m. EST)
TOKYO?Matsushita Electric Industrial Co. Ltd. appointed Kunio Nakamura, 60, as its new president, and distancing itself from the 60-year dominance of the founding Matsushita family. Nakamura replaces Yoichi Morishita, 65, effective in late June.
But the upper-level moves also were marked by the elevation of executive vice president Masayuki Matsushita, to vice chairman, while Masaharu Matsushita, 87, current chairman of the board, is moved to the ceremonial post of honorary chairman.
"We respect the founder's family, but Matsushita is a public institution and a global institution, so I appointed the right person to lead the company," said Morishita, whose tenure attracted criticism for the company's failure to embrace Internet business opportunities.
"It does not mean we have severed relations with the Matsushita family. The family is the family, and management will select a leader who will make the company grow," he added.
Nakamura, currently the president of audio, visual and computer products unit, joined Matsushita in 1962. From 1987 to 1997, he was in the United States to head Matsushita's Panasonic Company and then North America operation.
Nakamura declined to talk about concrete future management plans, but only said that he would emulate Morishita's strategy. For the new century, he wants to focus on "agile" management even though Matsushita is a huge company.
"Matsushita positions manufacturing as the core of the company's business, and its way won't be the same as Sony. Matsushita won't enter the content business," he said, referring to one of Matsushita's rivals.
Kazuharu Miura, analyst at Daiwa Institute of Research Ltd., said, "Matsushita is not a company which stock price fluctuates because its president changes. So investors are waiting to see what Nakamura will do from now on."
The Tokyo stock market appeared to yawn at the news, edging Matsushita shares 0.7 percent to 2,875 yen.
eetimes.com |
