RNS Number : 0527H
  Pioneer Corporation
  30 October 2008
   




    For Immediate Release
    October 30, 2008
    Change of President at Pioneer Corporation
    TOKYO - The board of directors of Pioneer Corporation, at its meeting held on October 30, 2008, resolved that Mr. Tamihiko Sudo,
currently President and Representative Director, would resign his post as President and Representative Director effective as of November 15,
2008. The board also resolved to appoint Mr. Susumu Kotani, currently Managing Director, as its new President and Representative Director,
effective as of November 16, 2008.

    This change in management is an indication of assuming responsibility for the steep decline in Pioneer's consolidated business forecasts
for fiscal 2009, ending on March 31, 2009, such as projected operating loss of �17 billion and a projected net loss of �78 billion for the
period.

    Mr. Kotani has held various important posts at the Pioneer Group, including those at car electronics sales and marketing and General
Manager of Pioneer's Home Entertainment Business Group, as well as General Manager of International Business Group and presidents of
overseas subsidiaries.

    Under Mr. Kotani's new leadership, Pioneer Corporation will expedite restructuring of operations and seek to improve its business
performance. Mr. Sudo will remain as director, and will be supporting the new president.


    Pioneer Corporation is a leading global manufacturer of consumer- and business-use electronics products such as audio, video and car
electronics. Its shares are traded on the Tokyo Stock Exchange.


    � � � � � �


    Attached is a brief profile of Mr. Susumu Kotani.

    [Profile of Mr. SUSUMU KOTANI]

    New Title:
    President and Representative Director (currently Managing Director)

    Place of Birth:
    Tottori Prefecture, Japan

    Date of Birth:
    April 12, 1950

    Education:
    March 1975
    Graduated from the Department of Economics, Meiji Gakuin University

    Business Career:
    April 1975
    Joined Pioneer Corporation
    August 1975
    International Division, Pioneer
    July 1997
    General Manager of Overseas Sales Division of Mobile Entertainment Company, Pioneer
    May 2000
    President of Pioneer Electronics (USA) Inc.
    October 2002
    Managing Director of Pioneer Europe NV
    June 2003
    Executive Officer of Pioneer; Chairman and Managing Director of Pioneer Europe NV
    June 2006
    Executive Officer; General Manager of International Business Group, Pioneer
    June 2007
    Senior Executive Officer; In charge of sales and marketing of 
Home Entertainment Business Group and General Manager of International Business Group, Pioneer
    December 2007
    Senior Executive Officer; General Manager of Home Entertainment Business Group, Pioneer
    June 2008
    Managing Director; General Manager of Home Entertainment Business Group, Pioneer

    For further information, please contact:
    Public Relations
    Pioneer Corporation, Tokyo, Japan
    Phone: +81-3-3495-9885
    E-mail: pioneer_prd@post.pioneer.co.jp
    Website: http://pioneer.jp/e/

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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