Olympus scandal triggers Japan shareholder activism
January 25th, 2012
After British whistleblower Michael Woodford was sacked as CEO of Olympus and revealed the Japanese firm had covered up losses of $1.7 billion, he mounted a campaign to get his job back. His effort though went nowhere, with Japanese financial institutions preferring to stick with the remaining board and several disgraced directors, some of them being sued by Olympus itself. Now [...]