Pioneer North America Announces Internal Reorganization To Focus On Strategic Digital Product Categories

Plasma, DVD Recorder, Rewritable DVD Drive, Digital Set Top Box And Mobile Audio/Visual Systems Are Pivotal To Reaching Goals Of Vision 2005

22-Jun-01

Pioneer North America, Inc. announced an internal reorganization designed to focus the company's efforts on strategic business areas including plasma displays, DVD players and recorders, DVD-R/RW computer drives, digital set-top boxes and mobile audio/video systems. The reorganization, effective July 1, will merge four of Pioneer's U.S. companies into a single, integrated organization with the following five major divisions: Home Entertainment, Mobile Entertainment, Business Solutions, Strategic Services, and Customer Support. The new company will be called Pioneer Electronics (USA) Inc., bringing Pioneer's five strategic digital product categories into a single sales and marketing entity to generate synergy, efficiency, and consistency from product planning to marketing communications and branding. Additionally, it will give the company added flexibility in a dynamic marketplace, while moving it closer to achieving its Vision 2005 goals.""I'm extremely pleased with the financial success of Pioneer North America during fiscal year 2001,"" said Kazunori Yamamoto, President and Chief Executive Officer of Pioneer North America, Inc. ""But there is never a moment to rest in our efforts to achieve the goals set out in Vision 2005. The merger of our sales and marketing arms with our strategic services and customer support companies will allow us to leverage the core competencies and power of Pioneer as a whole.""Mr. Yamamoto will assume the role of President and Chief Executive Officer of the new organization in addition to his current duties as President and Chief Executive Officer of Pioneer North America, Inc.Other leadership of the newly reorganized Pioneer Electronics (USA) Inc., includes:- Susumu Kotani, President, Mobile Entertainment Division- Tsutomu (Tom) Haga, President, Home Entertainment Division- Paul Dempsey, President, Business Solutions Division- Greg Pierson, President, Strategic Services Division- Ron Stone, President, Customer Support DivisionMore than two years ago, Pioneer Corporation (NYSE: PIO) launched its worldwide Vision 2005 business initiative and as part of this effort, its subsidiary, Pioneer North America, set out to increase revenues, reduce costs and improve overall efficiencies. This reorganization will further Pioneer's efforts to reaching these goals.For more information about Pioneer Corporation, visit www.pioneerelectronics.com.

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