Olympus chairman and president Tsuyoshi Kikukawa resigns

By PR admin | Published: October 26, 2011
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Shuichi Takayama olympus Olympus chairman and president Tsuyoshi Kikukawa resignsOlympus chairman and president Tsuyoshi Kikukawa resigned today after the company stock got hit hard based on fraud accusations made by the former CEO Michael Woodford. Tsuyoshi Kikukawa issued an apology but still denied any wrong doing.

You can see the official statement from Olympus here.

Via Bloomberg

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11 Comments

  1. Melvin
    Posted October 26, 2011 at 12:37 pm | Permalink

    Olympus … is this the Olympic committee? Or is it a limping octopus? I’ve never heard of this company before.

  2. WT21
    Posted October 26, 2011 at 2:54 pm | Permalink

    He stepped down from chair to a board member. He didn’t leave the board. Depending on the dynamics of the board, it may be more symbolic than anything. Time will tell whether it was poor management or outright fraud.

  3. photoartbymark
    Posted October 26, 2011 at 4:31 pm | Permalink

    sayonara itchi ban san

  4. Camaman
    Posted October 26, 2011 at 4:42 pm | Permalink

    I feel like this company is gonna BLOW UP!!

  5. Art K.
    Posted October 26, 2011 at 5:05 pm | Permalink

    What? no Seppuku? Such loss of face.

  6. nau
    Posted October 26, 2011 at 10:36 pm | Permalink

    just when they were making good products … eerr

    • Melvin
      Posted October 26, 2011 at 10:58 pm | Permalink

      Making good products was only their front for organized crime!

      • Dummy00001
        Posted October 27, 2011 at 9:56 am | Permalink

        I hope their organized crime side did better than their m43.

        • SZRimaging
          Posted October 27, 2011 at 10:30 am | Permalink

          What’s wrong with their m43? I have an E-PM1 as a compliment to my Nikon gear, and it does great for what it is supposed to be.

  7. EMW
    Posted October 26, 2011 at 11:21 pm | Permalink

    where there’s smoke, there is likely fire.

    • Art K.
      Posted October 27, 2011 at 11:59 am | Permalink

      yes, but there are all kinds of smoke…