Change will be the key word for the parent company of Panasonic Security Systems in 2005, as Matsushita Electric Industrial Co. is beginning a global reorganization. The most immediate change will be the end of the use of the Matsushita name in the United States.
Security Sales & Integration has also learned that there will be a management reorganization within Panasonic Security Systems. It is unclear what shape this reorganization will take and whether anyone in the current company’s management will be losing their position.
Matsushita Electric Corp. of America, the North American arm of Japan’s Matsushita, will change its name to Panasonic Corp. of North America on Jan. 1 to take advantage of the company’s well-known brand name in the states.
All 50 of Matsushita’s entities in the U.S. and Mexico will take on the Panasonic name during the coming year. In fact, the company plans to abandon the Matsushita name throughout the world in the coming year except in the company’s base of operations in Japan, where Konosuke Matsushita founded the company in the 1930s.
The name change is just the tip of a global reorganization of the company that will include reorganization at Panasonic Security.
“We are in the midst of a huge transformation of our company’s systems and organization,” said company chairman Yoshi Yamada in a statement. “By putting the Panasonic name on the revitalized company, we want to underline the dynamic change going on within the organization.”
