Reuters digs deep into fee scandal at Olympus
11.01.2011
Michael Woodford was CEO of Olympus for just two weeks. But by blowing the whistle on extraordinary advisory fees, the outsider has had a profound impact on the Japanese camera maker. Revelations about the payments have forced Woodford to flee Japan, led chairman Tsuyoshi Kikukawa to resign, wiped around $4 billion off Olympus’ market value and prompted law enforcement agencies in Japan and the United States to investigate. Unanswered questions have also spurred speculation that Japan’s Yakuza crime syndicates could be involved. A Reuters profile of the man pointing the finger adds new insight and provides a compelling narrative.
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