30th Oct 2008 12:32
For Immediate Release
October 30, 2008
Change of President at Pioneer Corporation
TOKYO - The board of directors of Pioneer Corporation, at its meeting held on October 30, 2008, resolved that Mr. Tamihiko Sudo, currently President and Representative Director, would resign his post as President and Representative Director effective as of November 15, 2008. The board also resolved to appoint Mr. Susumu Kotani, currently Managing Director, as its new President and Representative Director, effective as of November 16, 2008.
This change in management is an indication of assuming responsibility for the steep decline in Pioneer's consolidated business forecasts for fiscal 2009, ending on March 31, 2009, such as projected operating loss of ¥17 billion and a projected net loss of ¥78 billion for the period.
Mr. Kotani has held various important posts at the Pioneer Group, including those at car electronics sales and marketing and General Manager of Pioneer's Home Entertainment Business Group, as well as General Manager of International Business Group and presidents of overseas subsidiaries.
Under Mr. Kotani's new leadership, Pioneer Corporation will expedite restructuring of operations and seek to improve its business performance. Mr. Sudo will remain as director, and will be supporting the new president.
Pioneer Corporation is a leading global manufacturer of consumer- and business-use electronics products such as audio, video and car electronics. Its shares are traded on the Tokyo Stock Exchange.
# # # # # #
Attached is a brief profile of Mr. Susumu Kotani.
[Profile of Mr. SUSUMU KOTANI]
New Title:
President and Representative Director (currently Managing Director)
Place of Birth:
Tottori Prefecture, Japan
Date of Birth:
April 12, 1950
Education:
March 1975
Graduated from the Department of Economics, Meiji Gakuin University
Business Career:
April 1975
Joined Pioneer Corporation
August 1975
International Division, Pioneer
July 1997
General Manager of Overseas Sales Division of Mobile Entertainment Company, Pioneer
May 2000
President of Pioneer Electronics (USA) Inc.
October 2002
Managing Director of Pioneer Europe NV
June 2003
Executive Officer of Pioneer; Chairman and Managing Director of Pioneer Europe NV
June 2006
Executive Officer; General Manager of International Business Group, Pioneer
June 2007
Senior Executive Officer; In charge of sales and marketing of Home Entertainment Business Group and General Manager of International Business Group, Pioneer
December 2007
Senior Executive Officer; General Manager of Home Entertainment Business Group, Pioneer
June 2008
Managing Director; General Manager of Home Entertainment Business Group, Pioneer
For further information, please contact:
Public Relations
Pioneer Corporation, Tokyo, Japan
Phone: +81-3-3495-9885
E-mail: pioneer_prd@post.pioneer.co.jp
Website: http://pioneer.jp/e/
Related Shares:
Paragon M. C47