Panasonic Taps Ex-Fiscal Minister Ota As Outside Director

OSAKA (Nikkei)--Panasonic Corp. (6752) said Wednesday that it has appointed former economic and fiscal policy minister Hiroko Ota as an outside director. She is due to take her post June 26.

The ailing electronics giant hopes that the professor at the National Graduate Institute for Policy Studies will contribute to rebuilding its earnings with her expertise in macroeconomics and policy.

Ota, who also serves as deputy chairwoman of the government's council on regulatory reform, will be the first woman to sit on Panasonic's board.

Panasonic is expanding its board membership to 17 with the addition of Ota. However, it will reduce the number of executive officers, and the total tally of directors, auditors and executive officers will go down by 8 to 43.

(The Nikkei, Feb. 28 morning edition)

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