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Olympus still making mistakes says ousted CEO

Wednesday, April 18, 2012 - 01:11

April 18 - Ousted Olympus CEO Michael Woodford says the company has nominated the wrong people for the new executive positions. Rough Cut (no reporter narration).

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Ousted Olympus CEO Michael Woodford says the company is missing a chance to "cleanse itself" of its bad reputation, in the wake of the accounting scandal that rattled the endoscope maker. The executive whistle-blower will attend an emergency shareholders meeting convened by Olympus to pick a new management team. (SOUNDBITE) (English) OLYMPUS CORP FORMER CHIEF EXECUTIVE MICHAEL WOODFORD SAYING: "The company is claiming it's cleansing itself - yet it isn't. They've been given other high-paid senior positions within the corporation. It's utterly and totally wrong." (SOUNDBITE) (English) OLYMPUS CORP FORMER CHIEF EXECUTIVE MICHAEL WOODFORD SAYING: "Olympus was such a wonderful company. It could be a jewel in corporate Japan. It could be one of the most profitable companies in Japan. And it could demonstrate the best governance, and they are wasting it. They are putting a chairman in who's a banker who will represent the interest of the bank. What does he know about healthcare?" (SOUNDBITE) (English) OLYMPUS CORP FORMER CHIEF EXECUTIVE MICHAEL WOODFORD SAYING: "There will be a dichotomy and you will see, I believe, on mass overseas shareholders voting against what is taking place. That again, is a terrible position for Japan to be in."

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Olympus still making mistakes says ousted CEO

Wednesday, April 18, 2012 - 01:11