In October 2011, Olympus Corporation, a multi-billion dollar Japanese optical company, dismissed its president and CEO, British-born Michael Woodford, over cultural differences in management style. Japanese media dutifully reported the dismissal with minimum coverage, another foreign CEO failing to adapt to the Japanese way. But international media reported a brewing scandal where Japanese board members of the company unanimously voted to dismiss Woodford for blowing the whistle on a 1.7 billion dollar fraud that the 93-year-old Japanese company had kept secret for more than two decades.
0.0/10In October 2011, Olympus Corporation, a multi-billion dollar Japanese optical company, dismissed its president and CEO, British-born Michael Woodford, over cultural differences in management style. Japanese media dutifully reported the dismissal with minimum coverage, another foreign CEO failing to adapt to the Japanese way. But international media reported a brewing scandal where Japanese board members of the company unanimously voted to dismiss Woodford for blowing the whistle on a 1.7 billion dollar fraud that the 93-year-old Japanese company had kept secret for more than two decades.
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