Olympus Former Board Member Wants Exec Woodford Back
A former board member of Olympus Corp. has launched an online petition to persuade the Japanese company to bring back Michael Woodford, the British executive fired for questioning payments made to cover up huge investment losses.
Koji Miyata says he wants the company to issue a public apology to Woodford and reinstate him as chief executive officer.
Miyata served on Olympus' board from 1995 to 2006.
Woodford was fired last month after raising questions about $687 million in payments for financial advice and expensive acquisitions of companies unrelated to Olympus' mainstay businesses.
The company later admitted that the payments were made to cover up huge investment losses since the 1990s.