Whistleblower at Olympus calls for answers
Michael Woodford, the sacked chief executive of Olympus who blew the whistle on a $1.7bn (£1.1bn) accounting scandal, yesterday urged the company to mend its ways at its annual shareholders' meeting, and demanded to know why he had been ousted.
As 1,000 investors in the endoscope and camera company approved a new board at the meeting, Mr Woodford said that the group's refusal to explain his sacking "will constitute clear grounds for this EGM to be later cancelled in court.
Since he was fired in October, Olympus has admitted carrying out fraud to conceal massive investment losses under a scheme going back two decades. Prosecutors in Japan, the UK and the US are investigating. Seven people have been arrested, including a former Olympus chairman.
Mr Woodford, who is suing Olympus as well as writing a book about his time there said it was a "mockery" to claim it was making a new start. Olympus' new president will be Hiroyuki Sasa, a 30-year veteran of the company, and its new chairman is Yasu-yuki Kimoto, 63, a former executive at its main lender, Sumitomo Mitsui Financial Group.
That's some guestlist! Stunning images show huge dynastic wedding between Ultra-Orthodox Jewish families which attracted 25,000 guests
'He was always smiling': Lee Rigby named as Woolwich victim
Heathrow airport reopens runways after British Airways plane 'on fire over London' makes emergency landing
Two bailed after arrest over Woolwich attack Twitter comments
Exclusive: Woolwich killings suspect Michael Adebolajo was inspired by cleric banned from UK after urging followers to behead enemies of Islam
- 1 Pope Francis: Being an atheist is alright as long as you do good
- 2 What, let gays get married? We must be bonkers
- 3 'Something passed underneath us, quite close': Airbus A320 has close encounter with UFO
- 4 Lord of the Sings: Sir Christopher Lee, 91, to release heavy metal album
- 5 Two bailed after arrest over Woolwich attack Twitter comments
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Nook is donating eReaders to volunteers at high-need schools and participating in exclusive events throughout the campaign.
Get the latest on The Evening Standard's campaign to get London's children reading.
Win anything from gadgets to five-star holidays on our competitions and offers page.