Olympus Ex-CEO Woodford: Resigning From Board To Work On Alternative Plan
01 December 2011 - 10:55AM
Dow Jones News
Michael Woodford, the former chief executive of Olympus Corp.
(7733.TO), said Thursday he is resigning from the company's board
to work on an alternative plan for managing the scandal-hit maker
of cameras and medical equipment.
The current Olympus management, headed by President Shuichi
Takayama, "shouldn't be choosing the destiny of the company. They
are wrong people," said Woodford. He said his plan includes his own
return to senior management at the company.
Woodford said he would be working with "various parties" on his
proposals for leading the company on an alternative management
path.
An Olympus spokesman said he hadn't yet been able to confirm
whether Woodford had resigned from the board.
-By Juro Osawa, Dow Jones Newswires; +81-3-6269-2794;
juro.osawa@dowjones.com
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