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.
- 1 School kitchen manager 'fired from Colorado school for giving hungry students free lunches'
- 2 California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
- 5 Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
Amber Peat: Body found in search for missing 13-year-old who ran away after argument with her parents
Alton Towers crash: Four guests seriously injured as Smiler ride carriages collide
Charles Kennedy dead: A guy once asked the Lib Dem leader who his favourite Muppet was and his letter response was wonderful
Gay teenager 'forced to have sex with his own mother' to 'cure' his homosexuality, campaigners in India say
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Church of England 'one generation away from extinction' after dramatic loss of followers
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: The UK's fastest growing, multi...
£70000 - £90000 per annum: Recruitment Genius: A Financial Reporting Manager i...
£23000 - £25000 per annum: Recruitment Genius: They win lots of awards for the...
£13500 - £20000 per annum: Recruitment Genius: This nationwide enforcement com...