In the aftermath of company losses that passed $9 billion, Panasonic has announced that Fumio Ohtsubo is to step down as company president. He'll be replaced by current CEO Kazuhiro Tsuga in an executive reshuffle that'll take place in June, when Ohtsubo will step up to become chairman of the board, replacing Kunio Nakamura who is taking an "advisory role." Tsuga was formerly an executive at (parent company) Matsushita, where he spent a lot of time thumbing his nose at HD DVD and promising that
