Feb 26, 2007

Press Release

FOR IMMEDIATE RELEASE

Media Contacts:                Investor Relations Contacts:

Akira Kadota (Japan)           Makoto Mihara (Japan)
International PR               Investor Relations
(Tel: +81-3-3578-1237)         (Tel: +81-6-6908-1121)

Panasonic News Bureau (Japan)  Akihiro Takei (U.S.)
(Tel: +81-3-3542-6205)         Panasonic Finance (America), Inc.
                               (Tel: +1-212-698-1365)
Jim Reilly (U.S.)
(Tel: +1-201-392-6067)         Hiroko Carvell (Europe)
                               Panasonic Finance (Europe) plc
Munetsugu Takeda (Europe)      (Tel: +44-20-7562-4400)
(Tel: +49-611-235-305)

Matsushita Announces Proposed Senior Management Changes



Osaka, Japan, February 26, 2007 - Matsushita Electric Industrial Co., Ltd. (Matsushita [NYSE symbol: MC]), best known for its Panasonic brand, today announced the following changes of the members of the Board of Directors and Executive Officers, effective April 1, 2007, and proposed changes of the members of the Board of Directors and Corporate Auditors, effective June 27, 2007.

These proposed changes will be submitted for and subject to approval at the company's ordinary general meeting of shareholders to be held on June 27, 2007.

1. Members of the Board of Directors (Effective April 1)

Title Name New Responsibilities
Chairman of the Board Kunio Nakamura  
Vice Chairman of the Board Masayuki Matsushita  
President Fumio Ohtsubo  
Executive Vice Presidents Takami Sano Representative in Tokyo, in charge of Automotive Electronics Business, Panasonic EV Energy Co., Ltd., Panasonic System Solutions Company, Panasonic Mobile Communications Co., Ltd., Corporate eNet Business Division, ep Business Integration Center, and Corporate Construction Business Promotion Division
Susumu Koike In charge of Technology and Semiconductor Company
Tetsuya Kawakami In charge of Accounting
Executive Vice Presidents Shunzo Ushimaru
(promoted)
In charge of Domestic Consumer Marketing, Electrical Supplies Sales, Project Sales and Building Products Sales, Advertising and Design, Chairman, Corporate Brand Committee
Senior Managing Director Toshihiro Sakamoto President, Panasonic AVC Networks Company
Managing Directors Takahiro Mori In charge of Planning, Associate Director, Corporate IT Innovation Division, in charge of Panasonic Start-up Fund
Vice Chairman, Corporate Brand Committee
Shinichi Fukushima In charge of Personnel, General Affairs and Social Relations, in charge of e-Work Promotion Office
Junji Esaka In charge of Home Appliances Business
President, Matsushita Home Appliances Company, in charge of Lighting Company and Matsushita Refrigeration Company
Ikusaburo Kashima
(promoted)
In charge of Legal Affairs, Corporate Risk Management, Corporate Information Security and Corporate Business Ethics,  Legal Consultation & Solutions Center, and Corporate International Affairs
Directors Ikuo Uno  
Yoshifumi Nishikawa  
Hidetsugu Otsuru In charge of Facility Management, Quality Assurance, Corporate FF Customer Support & Management Division, Environmental Affairs, and Recycling Business Promotion
Mikio Ito In charge of Public and Private Institutions
Honorary Chairman of the
Board and Executive Advisor,
Member of the Board
Masaharu Matsushita  
Notes:

The Chairman of the Board of Directors, Vice Chairman of the Board of Directors, President, Executive Vice Presidents and Senior Managing Directors are Representative Directors and severally represent the company.

Ikuo Uno and Yoshifumi Nishikawa are outside directors.

2. Members of the Board of Corporate Auditors (Effective April 1)

Title Name New Responsibilities
Senior Corporate Auditors Kazumi Kawaguchi Chairman, Matsushita Group Auditors Meeting
Yukio Furuta  
Corporate Auditors Yasuo Yoshino  
Ikuo Hata  
Hiroyuki Takahashi  
Note: Yasuo Yoshino, Ikuo Hata and Hiroyuki Takahashi are outside corporate auditors.

3. Executive Officers (Effective April 1)

Title Name New Responsibilities
Senior Managing Executive Officer Koshi Kitadai President, Panasonic Automotive Systems Company
In charge of: Industrial Sales
Managing Executive Officers Yasuo Katsura Director, Tokyo Branch
Nobutane Yamamoto
(promoted)
In charge of Global Procurement
Director, Corporate Procurement Division, in Charge of Global Logistics
Hitoshi Otsuki
(promoted)
In charge of Overseas Operations
Yoshinobu Sato
(promoted)
Director, Corporate Sales Strategy Division for National/Panasonic Retailers, in charge of Corporate CS Division and Showroom Strategic Planning Office, Chairman, Showroom Strategic Committee
Yoshihiko Yamada
(promoted)
Director, Corporate Management Division for North America, and Chairman, Panasonic Corporation of North America
Ken Morita
(promoted)
Senior Vice President, Panasonic AVC Networks Company, Director, Visual Products and Display Devices Business Group, Panasonic AVC Networks Company
Executive Officers Yoshitaka Hayashi Director, Corporate Management Division for China and Northeast Asia, Chairman, Panasonic Corporation of China
Fujio Nakajima Senior Vice President, Panasonic AVC Networks Company, Director, Technology Planning & Development Center, Panasonic AVC Networks Company, General Manager, Digital Broadcasting Business Promotion Office
Takae Makita In charge of Information Systems
Associate Director, Corporate IT Innovation Division
Masashi Makino Director, Corporate Manufacturing Innovation Division
Joachim Reinhart COO, Panasonic Europe Ltd.
Yutaka Mizuno Vice President in charge of Sales, Panasonic Automotive Systems Company
Kazuhiro Tsuga In charge of Digital Network & Software Technology, Overseas R&D Centers, and Digital Network Strategic Planning Office
Ikuo Miyamoto President, Motor Company
Hideo Kawasaki President, Semiconductor Company
Shigeru Omori Director, Corporate Industrial Marketing & Sales Division
Executive Officers Takumi Kajisha In charge of Corporate Communications Division, Director, Corporate Communications Division, in charge of CSR Office, Advertising Group, and Corporate Citizenship Group, Vice Chairman, Showroom Strategic Committee
Masaaki Fujita Senior Vice President, Panasonic AVC Networks Company, and Director, Visual Products and Display Devices Business Group, and PDP TV Business Unit, Panasonic AVC Networks Company
Kazunori Takami In charge of Corporate Marketing Division for National Brand Home Appliances and Corporate Marketing Division for National Brand Wellness Products, Director, Corporate Marketing Division for National Brand Home Appliances
Yoshihisa Fukushima In charge of Intellectual Property
Director, Corporate Intellectual Property Division, and President, Intellectual Property Rights Operations Company
Makoto Uenoyama In charge of Accounting and Finance
Masatsugu Kondo
(newly appointed)
President, Matsushita Battery Industrial Co., Ltd., and President, Rechargeable Battery Company, Matsushita Battery Industrial Co., Ltd.
Naoto Noguchi
(newly appointed)
Director, Corporate Environmental Affairs Division, in charge of Corporate Quality Administration Division
Osamu Waki
(newly appointed)
President, Panasonic Mobile Communications Co., Ltd.
Toshiaki Kobayashi
(newly appointed)
President, Panasonic Electronic Devices Co., Ltd.
Joseph Taylor
(newly appointed)
COO, Panasonic Corporation of North America
Yoshiiku Miyata
(newly appointed)
Director, Corporate Management Division for Europe, and Chairman, Panasonic Europe Ltd.
Takashi Toyama
(newly appointed)
President, Panasonic System Solutions Company, and Director, Corporate Construction Business Promotion Division
Jun Ishii
(newly appointed)
Associate Director, Corporate Sales Strategy Division for National/Panasonic Retailers
Toshiro Kisaka
(newly appointed)
Director, Corporate Management Division for Asia and Oceania, and President, Panasonic Asia Pacific Pte. Ltd.
Note: Effective March 31, 2007, Yoshiaki Kushiki, Tameshige Hirata, Toru Ishida and Katsutoshi Kanzaki will retire from the office of Managing Executive Officer, Tomiyasu Chiba, Kazuyoshi Fujiyoshi and Tomio Kawabe will retire from the office of Executive Officer and Hajime Sakai will retire from the office of Corporate Advisor.

4. Resignations and Appointments of the Members of the Board of Directors and Corporate Auditors (Effective June 27)

Resignations:

Title Name New Responsibilities
Executive Vice President Tetsuya Kawakami To be appointed Corporate Advisor, Matsushita Electric Industrial Co., Ltd., and President, Matsushita Accounting College
Director Mikio Ito To retain his position as Executive Officer, Matsushita Electric Industrial Co., Ltd.
Senior Corporate Auditor Kazumi Kawaguchi  

Appointments:

Title Name Former (Current) Responsibilities
Senior Managing Director Koshi Kitadai Currently Senior Managing Executive Officer and President, Panasonic Automotive Systems Company, in charge of Industrial Sales
Managing Directors Yasuo Katsura Currently Managing Executive Officer and Director, Tokyo Branch
Hitoshi Otsuki Currently Managing Executive Officer in charge of Overseas Operations
Director Makoto Uenoyama Currently Executive Officer, in charge of Accounting and Finance
Senior Corporate Auditor Kenichi Hamada Formerly Executive Vice President, Panasonic Communications Co., Ltd.

5. Members of the Board of Directors (Effective June 27, 2007)

Title Name New Responsibilities
Chairman of the Board Kunio Nakamura  
Vice Chairman of the Board Masayuki Matsushita  
President Fumio Ohtsubo  
Executive Vice Presidents Takami Sano Representative in Tokyo, in charge of Automotive Electronics Business, Panasonic EV Energy Co., Ltd., Panasonic System Solutions Company, Panasonic Mobile Communications Co., Ltd., Corporate eNet Business Division, ep Business Integration Center, and Corporate Construction business Promotion Division
Susumu Koike In charge of Technology and Semiconductor Company
Shunzo Ushimaru In charge of Domestic Consumer Marketing, Electrical Supplies Sales, Project Sales and Building Products Sales, Advertising, and Design
Chairman, Corporate Brand Committee
Senior Managing Directors Koshi Kitadai
(newly appointed)
President, Panasonic Automotive Systems Company, and in charge of Industrial Sales
Toshihiro Sakamoto President, Panasonic AVC Networks Company
Managing Directors Yasuo Katsura
(newly appointed)
Director, Tokyo Branch
Takahiro Mori In charge of Planning, Associate Director, Corporate IT Innovation Division, in charge of Panasonic Start-up Fund, Vice Chairman, Corporate Brand Committee
Shinichi Fukushima In charge of Personnel, General Affairs and Social Relations, in charge of e-Work Promotion Office
Junji Esaka In charge of Home Appliances Business
President, Matsushita Home Appliances Company
In charge of Lighting Company and Matsushita Refrigeration Company
Hitoshi Otsuki
(newly appointed)
In charge of Overseas Operations
Ikusaburo Kashima In charge of Legal Affairs, Corporate Risk Management, Corporate Information Security and Corporate Business Ethics, Legal Consultation & Solutions Center, and Corporate International Affairs
Directors Ikuo Uno  
Yoshifumi Nishikawa  
Hidetsugu Otsuru In charge of Facility Management, Quality Assurance, Corporate FF Customer Support & Management Division, Environmental Affairs, and Recycling Business Promotion
Makoto Uenoyama
(newly appointed)
In charge of Accounting and Finance
Honorary Chairman of the
Board and Executive Advisor,
Member of the Board
Masaharu Matsushita  
Notes:

The Chairman of the Board of Directors, Vice Chairman of the Board of Directors, President, Executive Vice Presidents and Senior Managing Directors are Representative Directors and severally represent the company.

Ikuo Uno and Yoshifumi Nishikawa are outside directors.

6. Members of the Board of Corporate Auditors(Effective June 27)

Title Name New Responsibilities
Senior Corporate Auditors Yukio Furuta  
Kenichi Hamada
(newly appointed)
Chairman, Matsushita Group Auditors Meeting
Corporate Auditors Yasuo Yoshino  
Ikuo Hata  
Hiroyuki Takahashi  
Note: Yasuo Yoshino, Ikuo Hata and Hiroyuki Takahashi are outside corporate auditors.

7. Executive Officers(Effective June 27)

Title Name New Responsibilities
Managing Executive Officers Nobutane Yamamoto In charge of Global Procurement
Director, Corporate Procurement Division
In Charge of Global Logistics
Yoshinobu Sato Director, Corporate Sales Strategy Division for National/Panasonic Retailers
In charge of Corporate CS Division and Showroom Strategic Planning Office
Chairman, Showroom Strategic Committee
Yoshihiko Yamada Director, Corporate Management Division for North America and Chairman, Panasonic Corporation of North America
Ken Morita Senior Vice President, Panasonic AVC Networks Company, and Director, Visual Products and Display Devices Business Group, Panasonic AVC Networks Company
Executive Officers Yoshitaka Hayashi Director, Corporate Management Division for China and Northeast Asia, and Chairman, Panasonic Corporation of China
Fujio Nakajima Senior Vice President, Panasonic AVC Networks Company, and Director, Technology Planning & Development Center, Panasonic AVC Networks Company, and General Manager, Digital Broadcasting Business Promotion Office
Takae Makita In charge of Information Systems
Associate Director, Corporate IT Innovation Division
Masashi Makino Director, Corporate Manufacturing Innovation Division
Joachim Reinhart COO, Panasonic Europe Ltd.
Yutaka Mizuno Vice President in charge of Sales, Panasonic Automotive Systems Company
Mikio Ito In charge of Public and Private Institutions
Kazuhiro Tsuga In charge of Digital Network & Software Technology, Overseas R&D Centers, and Digital Network Strategic Planning Office
Ikuo Miyamoto President, Motor Company
Hideo Kawasaki President, Semiconductor Company
Shigeru Omori Director, Corporate Industrial Marketing & Sales Division
Takumi Kajisha In charge of Corporate Communications Division, Director, Corporate Communications Division, in charge of CSR Office, Advertising Group, and Corporate Citizenship Group, Vice Chairman, Showroom Strategic Committee
Masaaki Fujita Senior Vice President, Panasonic AVC Networks Company, and Director, Visual Products and Display Devices Business Group, and PDP TV Business Unit, Panasonic AVC Networks Company
Kazunori Takami In charge of Corporate Marketing Division for National Brand Home Appliances and Corporate Marketing Division for National Brand Wellness Products, Director, Corporate Marketing Division for National Brand Home Appliances
Yoshihisa Fukushima In charge of Intellectual Property Director, Corporate Intellectual Property Division, and President, Intellectual Property Rights Operations Company
Masatsugu Kondo President, Matsushita Battery Industrial Co., Ltd., and President, Rechargeable Battery Company, Matsushita Battery Industrial Co., Ltd.
Naoto Noguchi Director, Corporate Environmental Affairs Division, in charge of Corporate Quality Administration Division
Osamu Waki President, Panasonic Mobile Communications Co., Ltd.
Toshiaki Kobayashi President, Panasonic Electronic Devices Co., Ltd.
Joseph Taylor COO, Panasonic Corporation of North America
Yoshiiku Miyata Director, Corporate Management Division for Europe; and Chairman, Panasonic Europe Ltd.
Takashi Toyama President, Panasonic System Solutions Company; Director, Corporate Construction Business Promotion Division
Jun Ishii Associate Director, Corporate Sales Strategy Division for National/Panasonic Retailers
Toshiro Kisaka Director, Corporate Management Division for Asia and Oceania; and President, Panasonic Asia Pacific Pte. Ltd.

About Panasonic
Best known for its Panasonic brand name, Matsushita Electric Industrial Co., Ltd. is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the Company recorded consolidated net sales of US$76.02 billion for the year ended March 31, 2006. The Company's shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE:MC) stock exchanges. For more information on the Company and the Panasonic brand, visit the Company's website at http://panasonic.net/.


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