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Olympus

Olympus

In 2011, the company gained coverage in global media when it fired after two weeks its newly appointed British chief executive Michael Woodford, a 30 year Olympus veteran, and Olympus' president and chief operating officer since April that year, who had sought to probe financial irregularities and unexplained payments of hundreds of millions of dollars following his appointment as CEO. Although the board initially dismissed Woodford's concerns via mass media as being "disruptive" actions and Woodford as failing to grasp local culture, the matter quickly snowballed into a corporate corruption scandal over concealment of more than 117.7 billion Yen of investment losses and other dubious fees and other payments dating back to the late 1980s and suspicion of covert payments to criminal organizations. By 2012 the scandal had developed into one of the biggest and longest-lived loss-concealing financial scandals in the history of corporate Japan; it had wiped 75 - 80% off the company's stock market valuation, led to the resignation of much of the board, investigations across Japan, the UK and US, the arrest of 11 past or present Japanese directors, senior managers, auditors and bankers of Olympus for alleged criminal activities or cover-up, and raised considerable turmoil and concern over Japan's prevailing corporate governance and transparency and the Japanese financial markets.

  • 3110Products
  • 30Followers
Olympus V332040BW000 Grip for EM-10 ECG-1
By Olympus
$34.99
3 Sellers
0 0
Olympus Infinity Zoom 80 QD Date 35mm Camera
By Olympus
$419.99
2 Sellers
0 0
Olympus M. Zuiko Digital ED 12mm f/2.0 Lens for Micro Four
By Olympus
$569.00
4 Sellers
0 0
Olympus OM-D E-M10 Mark II Camera with 14-42mm Lens, Silver
By Olympus
$719.99
2 Sellers
0 0
Olympus 9mm f8.0 Fisheye Body Cap Lens BCL-0980 for Micro 4/
By Olympus
$103.99
3 Sellers
0 0
Olympus TP-8 Telephone Pick-up Microphone
By Olympus
$13.99
3 Sellers
0 0
Olympus J300 Microcassette Recorder
By Olympus
$310.80
2 Sellers
0 0
Olympus ME-51S Stereo Microphone
By Olympus
$34.49
2 Sellers
0 0
Olympus 16 MB SmartMedia
By Olympus
$16.79
0 0
Olympus VF-4 ViewFinder
By Olympus
$260.07
3 Sellers
0 0
Olympus LED Light Guide  for Olympus TG-1/2/3/4
By Olympus
$33.00
3 Sellers
0 0
Olympus Mono Lapel Microphone
By Olympus
$25.49
3 Sellers
0 0
Olympus Digital Voice Audio Recorder VN-721PC
By Olympus
$33.60
3 Sellers
0 0
Case Logic SLRC-206 SLR Camera and 15.4-Inch Laptop Backpack
By Case Logic
$81.77
6 Sellers
0 0
Olympus M+ 2 GB xD-Picture Card Flash Memory Card 202332
By Olympus
$20.38
2 Sellers
0 0
Olympus Digital Voice Recorder WS-852, Silver
By Olympus
$52.19
3 Sellers
0 0
Olympus Telephoto Tough Lens Pack  for TG-1, TG-2, and TG-3
By Olympus
$123.95
5 Sellers
0 0
Olympus Pearlcorder S701 Microcassette Recorder
By Olympus
$467.99
2 Sellers
0 0
Olympus PT-056 UW Housing for the Olympus TG-3 and TG-4
By Olympus
$335.00
3 Sellers
0 0
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