Matsushita's Urgent Quest For Leadership

In Japan's ritualized business culture, company presidents sometimes resign to atone for poor results. On Feb. 23, Matsushita Electric Industrial Co. President Akio Tanii stepped down to take responsibility, he said, for "unfortunate events" during his seven-year reign. But he didn't quell speculation he had been shunted aside by Chairman Masaharu Matsushita, 80, who appears intent on solidifying family control of the $64 billion company, the world's No. 1 maker of consumer electronics.

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