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JVC President steps down after financial meltdown

May 31st, 2007 · No Comments

After a disastrous performance which has seen Matsushita offer it up for sale, JVC has announced that its current president Masahiko Terada, will step down at the end of June. The two remaining Matsushita representatives will also leave the JVC board. JVC Senior Managing Director Kunihiko Sato, will take over the role of President. His first job will be to oversee the move from Matsushita to US private equity firm TPG (Texas Pacific Group), during the summer.

Tags: Corporate · Trade

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