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Ex Olympus CEO to visit Japan

Ex-Olympus CEO Michael Woodford is to pay a visit to Japan next week

Ousted Olympus chief executive Michael Woodford is expected to make a return to Japan next week ahead of the company's deadline to announce earnings or face delisting from the Tokyo stock exchange.

According to a statement released by Woodford's spokesman, he will arrive in Japan the day before the deadline, holding a press conference on December 14th.

Around 70 Olympus executives are currently being investigated after Woodford was sacked and years worth of scandal and cover-ups at the camera company emerged.


The Tokyo Stock Exchange gave Olympus a December 14th deadline to announce it earnings, else it faces risk of being delisted. Since Woodford was sacked, the company has lost the equivalent in $4.5billion in share value, while several members of the Olympus community called for Woodford to be reinstated.

Originally, Olympus had claimed that it had fired Woodford over cultural differences, but since the sacking, a number of problems in the company have come to light, with several high-key figures at the company either resigning or being fired.

Woodford has said that he is keen to avoid delisting will apparently hold meetings to help revitalise Olympus during his three day stay in Japan. Latest share figures show that stock has risen slightly.

Keep following next week as the deadline for announcement arrives.

Via Bloomberg