Panasonic Plans Reform of Head Office and Governance
Aug 7, 2012
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Panasonic Corp. intends to reform its head office and the governance of the company, effective Oct. 1, 2012. Panasonic's goal is to reduce internally focused work and to better focus on meeting customer needs.
The framework for the reform includes plans to establish a corporate strategy head office and a professional business support sector. The new Corporate Strategy Head Office will have about 150 employees. Among the responsibilities of the office:
* "formulating Group midterm strategy and allocating management resources"
* "promoting cash flow management (focused on capital)"
* "developing executive candidates"
Other functions will be realigned as part of a Professional Business Support Sector. Panasonic will regroup some related divisions into single divisions and simplify organization.
Another step in the strategy: "Transfer the themes and review the mission of the Corporate R&D division." The new mission of the Corporate Research and Development division:
* Carry out R&D and create new businesses in growth areas.
* Develop technology that is uniform across the entire company.
The company will also review the Group decision-making structure.
To make Group mid- and long-term strategy and make quick decisions, Panasonic will establish a Group Management Team made up of some 10 executives.
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