Panasonic Corp <6752.T> said on Tuesday its president, Fumio Ohtsubo, would step down to become chairman and that Senior Managing Director Kazuhiro Tsuga would take his place.

Panasonic, which earlier this month warned of a record annual net loss of 780 billion yen ($9.7 billion), said it will hold a news conference at 6 p.m. (0900 GMT). ($1 = 80.4600 Japanese yen)

(Reporting by Mayumi Negishi)