Kazuhiro Tsuga: Taking On A Tough Challenge

Heading one of the largest companies in the world is a dream come true for any executive. It has its big responsibilities and challenges. Few executives though have as tough a challenge now being faced by Kazuhiro Tsuga, President of Panasonic Corporation. He became president of the company in June 2012 and is also its Principal Executive Officer.

Tsuga replaced the previous president amid the staggering $14.1 billion the company has lost since April 2011. The losses are not unique to Panasonic as other large Japanese electronics companies have also experienced tremendous losses due to a host of factors like the devastating earthquake and tsunami. Innovative and efficient competitors from Korea and China have also eaten into their market.  Even the American company Apple has come roaring back with new products that have taken market share.

Panasonic through its more than 95 years of existence has become a sprawling electronics juggernaut producing a wide range of products from TV sets right down to eyelash curlers. The business model is no longer working.

Some of the products along with jobs will have to be cut out. Tsuga has been chosen to lead the company through this very tough and painful period.  With his more than 30 years of company experience he knows a lot about Panasonic which will be put into good use as he tries to stem the continuing losses while coming out with products that will bring the company to a profitable future.