Electronics Production | December 01, 2011

Olympus ex-CEO resigns from Board

Ousted Olympus CEO, Michael C. Woodford, formally resigned from the board on Thursday.
According to Reuters, Woodford has resigned in order to openly campaign for the removal of the entire board following the accounting scandal now under investigation by authorities.

Woodford said that he has met with several shareholders and they he hopes they will call for reelection of the board by Febuary.

Olympus has admitted to hiding investment losses for two decades through a series of questionable deals totaling up to $1.3 billion.
Source: Reuters


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