Panasonic Corp. (PC: Quote) announced to reform the head office and governance of the company as of October 1, 2012, in order to reduce internally-focused work throughout of the company and focus on meeting customer needs.
The company will establish a Corporate Strategy Head Office with around 150 people, and strengthen the functions such as "formulating Group midterm strategy and allocating management resources," "promoting cash flow management (focused on capital)," and "developing executive candidates." Also, functions other than the above will be realigned as part of a Professional Business Support Sector. Furthermore, Panasonic will regroup some of the related divisions into single divisions and simplify organizations.
The company will also transfer the themes and personnel in the Corporate R&D division that support continued growth in existing business fields to relevant business domains, and the company will strengthen its ability to create midterm businesses on the frontlines.
In order to have discussions from many angles regarding the Group mid- and long-term strategy and other important matters, and to set its direction in an appropriate and speedy manner, the company will establish a "Group Management Team" consisting of about 10 executives. Also, to have a meeting where this team can hold discussions and set the direction the company should take, the company will integrate the purposes of the "Group Managing Directors Meeting," the "Corporate R&D Strategic Meeting," and others, and establish the "Group Strategy Meeting."
As a meeting for making decisions regarding important matters of the Group, Panasonic will establish a "Group Executive Committee for Deliberating Important Matters," by integrating the purposes of the "Group Management Committee," the "Approval Meeting." Positioned as a meeting where discussions will be made prior to the Board of Directors Meeting, this committee will play a role in complementing and strengthening the decision-making function.
| || |
| To receive FREE breaking news email alerts for Panasonic Corp. and others in your portfolio|
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org