Panasonic's Mannion, Tanenbaum Exit Company

By Steve Smith -- TWICE, 1/8/2002

SECAUCUS, N.J. — Two longtime sales and marketing executives of Panasonic, involved in its digital television operation, have left the company.

Bill Mannion, VP/general manager of the Panasonic TV and Network System Division, left the firm in December. According to sources, Mannion, who had spent more than a decade with Panasonic, has joined Microsoft in an executive role.

Jonas Tanenbaum, who had spent almost a decade with Panasonic and was most recently national marketing manager for the same Panasonic division, has left the company last month to join Samsung as national marketing manager for its Digital Consumer Electronics Group, Digital Division.

In other company news, Panasonic's parent, Matsushita Electric Industrial said that on an ongoing basis it is studying alternatives for reorganizing five of its Group operations, including share exchanges, but it has not decided whether to pursue any such alternative.

Matsushita also noted that Victor Company of Japan (JVC), a consolidated subsidiary which markets its products under a different brand name from other Matsushita Group companies, is not being considered for reorganization under any current alternative.

Regarding media reports of the possible issuance of straight bonds, Matsushita commented that, while it has filed a shelf registration statement for bond offerings with the relevant Japanese government authorities, it has not decided on the specific amount to be offered or other details.