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PANASONIC NAMES STEVE DEGUCHI PRESIDENT

OF PANASONIC AUTOMOTIVE SYSTEMS COMPANY OF AMERICA

Secaucus, NJ (September 28, 2009) – Panasonic, a leader in automotive electronics equipment, has named Satoru “Steve” Deguchi President of Panasonic Automotive Systems Company of America and Chairman of Panasonic Automotive Systems Company of Mexico effective October 1. 

Mr. Deguchi, who will continue to serve concurrently as Senior Director of Japan-based Automotive Systems Company, an internal division company of Panasonic Corporation, and Director of its Multimedia 2 Business Group, will assume both roles from Vincent Sarrecchia who leaves Panasonic after 32 years of service. Under Mr. Sarrecchia’s leadership, Panasonic Automotive Systems Company of America grew from a small equipment supplier in the auto industry to one of the largest manufacturers of automotive OEM equipment in North America. 

Mr. Deguchi has worked in car electronics his entire 30-year career with Panasonic, including management assignments in Europe, Mexico and the U.S. As Senior Director of Automotive Systems Company in Japan, Mr. Deguchi is responsible for the division company’s total overseas business. 

 “Steve Deguchi’s wealth of continuous experience in the automotive industry and his global perspective will be a tremendous asset in continuing to build on Panasonic Automotive Systems Company of America’s reputation as one of North America’s premier automotive suppliers,” said Yoshi Yamada, CEO of Panasonic Corporation of North America.  “We are looking to Steve to continue the tremendous work that outgoing president Vincent Sarrecchia delivered to strengthen automotive operations in North America as the industry starts to recover from the economic downturn.”

About Panasonic Automotive Systems Company of America

Based in Peachtree City, Georgia, and with Detroit-area operations located in Southfield, Michigan, Panasonic Automotive Systems Company of America is a division of Secaucus, New Jersey-based Panasonic Corporation of North America, the principal North American subsidiary of Panasonic Corporation (NYSE: PC) of Osaka, Japan, one of the world’s leading developers and producers of innovative digital and other electronic products for consumer, business and industrial use. Panasonic Automotive Systems Company of America also acts as the North American operating company of Automotive Systems Company, a division of Panasonic Corporation, which coordinates global automotive industry systems and components operations. Additional company information for journalists is available at www.panasonic.com/pressroom.

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