Olympus chair accuses ex-CEO of power grab
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The besieged chairman of Olympus has launched into a stinging attack on sacked Olympus CEO Michael Woodford over the company’s advisory fee scandal. Tsuyoshi Kikukawa delivered his rebuke via an internal company memo. In the memo, Kikukawa called Woodford’s actions “aberrant” and “unforgivable” in response to Woodford’s exposure of a series of exorbitant advisory fees that have totaled over $1 billion.
In the memo, Kikukawa stated that Woodford’s recent actions were the result of nothing more than a failed power grab. Using Woodford’s initials, Kikukawa stated that, “Director MCW was not satisfied unless he could control everything himself.” »read more
More at: Electronista Add additional source
Filed in: Olympus