CEO of Panasonic discusses the company’s move to Newark with students

On March 29, 2012, The Center for Urban Entrepreneurship & Economic Development (CUEED) and the Global Business MBA Student Club presented Rutgers Business School students with the opportunity to interact with the CEO of one of the world’s biggest electronic giants, Panasonic.

CEO Joseph Taylor introduced himself with a brief summary of how Panasonic is doing, and the changes and struggles of leading a 100-year-old company.  He then focused on the company’s decision to move its headquarters from Secaucus to Newark, indicating that this is a key strategic move for the company and an opportunity for collaboration with RBS students and faculty.

“Times have changed,” said Taylor. “We no longer do warehousing, so we don’t need the space we have in Secaucus. So, we had a decision to make.  One option was to move to San Diego, which the board supported. But, if we moved very far, we would have to fire about 800 people, and I didn’t want to do that if we didn’t have to.”

Of course there were many other reasons that made the decision to move to Newark an easy one, “green” incentives and discussions with Newark Mayor Cory Booker being two of them.

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Categories: All Posts, Commercial, Newark

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