OSAKA, JAPAN: Panasonic Corp. today announced changes to its board of directors, pending a June 25 shareholder vote at the company’s general meeting. Kunio Nakamura will serve as chairman of the board; Masayuki Matsushita will be vice chairman; Fumio Ostubo will be president; and Koshi Kitadai and Toshihiro Sakamoto will be executive vice presidents.
The company earlier this month reported a net profit of 32.3 billion yen (US$360 million) for its fiscal third quarter ending Dec. 31, 2009. The same period a year earlier yielded a loss of 63.1 billion yen. Revenues were up less than a percent at 1.886 trillion yen (US$20 billion).
For the full fiscal year ending March 31, Panasonic projected posting a net loss of 140 billion yen (US$1.53 billon) on revenues of 7.35 trillion yen, up from a previous estimate of 7 trillion.
