Pioneer North America President Tom Haga Departs After Nearly 40 Years Of Service

[The following is a release from Pioneer]

March 10, 2008

Pioneer North America, Inc (PNA) today announced that current president, chairman and CEO, Tom Haga, will pass on the reins after nearly 40 years of service to the company. Effective March 31, 2008, Haga will step into an executive advisory role for incoming president, Masao Kawabata who currently serves as the general manager of Corporate Branding and Communications in Japan. “Haga succeeded in ensuring that Pioneer could respond quickly and effectively to the changing consumer electronics environment. He transformed Pioneer as the industry moved from analog to digital and from stand-alone to networked products,” said Gary Shapiro, president and CEO, Consumer Electronics Association. “We are so thankful to Tom for his many years of support and the unique perspective he brought to the industry.” During his 38-year career at Pioneer, Haga served as a tremendous leader in the consumer electronics industry developing synergies between businesses and divisions. He has provided unique perspective and advice to a range of companies on how to grow and evolve with the changing technology and innovations. His open and honest leadership style was an asset to Pioneer in developing strong relationships throughout the industry in all different channels of the business. Haga led the company operations in Japan, the United States and the International Business Division, which includes China, Southeast Asia, Latin America and the Middle East. However, he spent 31 years of his career in North America, including Chicago, New York and Los Angeles. As a result, he has a deep understanding of the North American marketplace and the products and services demanded by American consumers. Kawabata will be responsible for corporate planning, shareholder relations, legal issues and overall business coordination for Pioneer North America and its subsidiaries. He will serve as chairman of each of the PNA subsidiaries, including sales and marketing for the United States and Canada; service and repair; automotive OEM sales; research and development; and manufacturing and patents. Pioneer North America, Inc. is the North American headquarters for Pioneer Corporation of Japan and is located in Long Beach, Calif. (www.pioneerelectronics.com). Pioneer Electronics (USA) Inc. is the core sales and marketing subsidiary of Pioneer North America. Its parent company, Pioneer Corporation, is a leader in optical disc technology and a preeminent manufacturer of high-performance audio, video and computer equipment for the home, car and business markets. The company focuses on four core business domains including Blu-ray Disc and DVD, display technologies, navigation and Digital Network Entertainment™.

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