Japan’s Panasonic Corp has appointed its head of automotive business Yuki Kusumi as the company’s next chief executive officer, replacing Kazuhiro Tsuga, who was the architect of a partnership with Tesla Inc.
The 55-year-old will take the reins on April 1, Panasonic said on Friday, after a three-decade career at the company which has seen Kusumi lead the automotive component business and the TV operations, much like his predecessor. Tsuga, 63, will become chairman.
The change comes as Panasonic has begun to benefit from a partnership with Tesla, which was central to the incumbent chief’s strategy.
Strong sales of Tesla electric vehicles (EV) have allowed Panasonic’s battery business to eke out profits this year, following several years of production troubles and delays at the U.S. partner.
Kusumi also oversaw the…
