Arab Today, arab today exolympus chief and two executives quit board
Last Updated : GMT 15:18:28
Arab Today, arab today
Arab Today, arab today

Ex-Olympus chief and two executives quit board

Arab Today, arab today

Arab Today, arab today Ex-Olympus chief and two executives quit board

Tokyo - AFP

Olympus\'s ex-chairman and two other directors have quit the firm\'s board, the company said, in the wake of a loss cover-up scandal unveiled since the sacking of the firm\'s British chief executive. Tsuyoshi Kikukawa resigned from the firm\'s board ahead of a key company meeting Friday, it said in a statement late Thursday, adding that its disgraced former executive vice president and corporate auditor also formally stepped down as company directors. Kikukawa resigned as chairman and president in October while Hisashi Mori was sacked as executive vice president earlier this month and auditor Hideo Yamada \"showed his intention to resign\", the company said. The trio had remained as board members but have now left the company. They have been accused of hiding investment losses that may total more than 100 billion yen ($1.3 billion) dating back to the 1990s. \"The company decided to accept their resignations as we have judged there will be no problem in getting their cooperation for the investigation,\" Olympus said, referring to an ongoing probe of the firm\'s accounting. \"The three people have cooperated sincerely on the investigation since the problem came to light and they said they would do so in the future,\" it added. On Thursday, the firm\'s current president, Shuichi Takayama, said the scandal-hit company\'s management team was prepared to step down when Olympus was back on the road to recovery. An independent committee of inquiry has been set up to scrutinise past transactions and company finances to uncover the wrongdoing that for years helped conceal huge investment losses. Olympus has admitted that it covered up those losses with fees for acquisitions and consultants, following weeks of pressure after former company chief Michael Woodford blew the whistle on payments made in four deals. The camera and medical equipment maker abruptly stripped the Briton of his title on October 14, only six months after appointing him its first ever non-Japanese president and two weeks after he was also named chief executive. Woodford has contended that he was sacked because he questioned the acquisitions and enormous fees paid to little-known consultants based in the Cayman Islands.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today exolympus chief and two executives quit board Arab Today, arab today exolympus chief and two executives quit board

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:57 2017 Sunday ,26 February

Huawei wins MRM Business Innovation Award

GMT 08:49 2017 Saturday ,25 February

Shell plans $300 mn investment in Argentina shale

GMT 05:40 2017 Saturday ,25 February

British Airways owner reports profit

GMT 15:19 2017 Thursday ,23 February

Companies' commitment to Bahrainisation quotas praised

GMT 14:48 2017 Thursday ,23 February

Etihad Airways Engineering signs deal with Kenya Airways

GMT 12:25 2017 Thursday ,23 February

Bharti Airtel buys Telenor's India operations

GMT 10:47 2017 Thursday ,23 February

Saudi Aramco may offer discounted shares to citizens
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday