Panasonic appoints Kusumi new CEO, replacing Tesla supporter Tsuga

(Reuters) – Japan’s Panasonic Corp said on Friday it has appointed Yuki Kusumi, the head of its automotive business, as its next chief executive officer, replacing Kazuhiro Tsuga, a supporter of Tesla Inc Chief Executive Officer Elon Musk.

The change, effective April 1, comes as strong sales of Tesla electric vehicles have allowed Panasonic’s battery business to eke out profits following several years of production troubles and delays at the U.S. partner.