Olympus and Panasonic Name New Company Presidents

OlympusPana.jpgIt's no secret that Olympus and Panasonic have been having some financial problems. After the recent trouble with Olympus and a record $9.7 billion net loss from Panasonic, both companies felt that new leadership is what was needed.

The Olympus board appointed Hiroyuki Sasa as the new company head. Sasa previously ran the company's medical equipment and marketing division. His goals, aside from increasing profits of course, include preventing future scandals and gaining back consumer trust.

Panasonic's former audio-visual product leader Kazuhiro Tsuga is taking over the presidency there. Tsuga wants to cut down the amount of time before decisions are made significantly. "My main concern is whether I can instill a sense of speed," he says.