Pioneer Boss Resigns Abruptly

Pioneer just released a statement that its much-loved North American chairman and CEO, Tom Haga, will "pass on the reins" after 38 years with the company. He is stepping down rather quickly, shifting to an advisory role on March 31, and his replacement, Masao Kawabata, will be moving from Japan. This sounds fishy following Pioneer's manufacturing upheaval this past week, but our company sources tell us it's an "unrelated and unfortunate coincidence in timing" due to the end of Pioneer's fiscal year. [Press Release]