Matsushita Electric Industrial Co., Ltd. best known by its Panasonic brand, today announced that Yoshihiko "Yoshi" Yamada, most recently director of the company's Systems Business Group and Vice President of Panasonic AVC Networks Company in Osaka, Japan, has been named Chairman and CEO of Matsushita Electric Corp. of America, which is based in Secaucus, N.J.

In this position, Mr. Yamada will oversee Panasonic's consumer, business- to-business and industrial component sales operations as well as its R&D and manufacturing operations in North America. Along with its subsidiaries and affiliates, the company has close to 100 business locations and employs 26,000 people in the U.S., Mexico, Canada and Puerto Rico. Its sales in North America in the last fiscal year topped $8.3 billion.

Building on experience he acquired in supplying Panasonic components to the U.S. computer industry, Mr. Yamada rose to become Director of the company's Personal Computer Division, where he oversaw the introduction of Panasonic's well-regarded ToughBook(TM) line of ruggedized laptop PCs. Later as head of the Systems Business Group, he revitalized the company's broadcast and professional video equipment production operations.

Also today, Masaru "Martin" Kono was named President and COO of Panasonic Consumer Electronics Company. In his new position, Mr. Kono will report directly to Mr. Yamada. Prior to this appointment, Mr. Kono was Executive Vice President of Panasonic Automotive Systems Co. of America based in Southfield, Mich.

Mr. Kono also has extensive experience in the U.S. market. From 1992 to 2001, he was President of Panasonic Personal Computer Company, where he guided the development and market introduction of the ToughBook(TM) laptop PC line. Between 1988 and 1992, Mr. Kono had senior marketing and sales responsibilities in the U.S., including a three-year assignment within Panasonic Company, the predecessor of the company he now heads.

As Chairman and CEO, Mr. Yamada succeeds Hideaki "Don" Iwatani, who held the position from 2000 until June of this year. Mr. Iwatani will become Executive Officer for International Affairs in Matsushita Electric's headquarters and will concurrently hold the position of Director of the Global Strategy Research Institute in Osaka.

As President of Panasonic Consumer Electronics Company, Mr. Kono succeeds Hideatsu "Andy" Takani, who held the position from 2000. Mr. Takani will become Deputy Director of Matsushita Electric's Panasonic Corporate Marketing Division in Osaka.