Olympus CEO says willing but not begging to return
TOKYO (Reuters) The British ex CEO of canada goose outlet toronto factory Japan Olympus Corp emerged Canada Goose sale from a frosty meeting of directors on Friday convinced its board would eventually quit over an accounting scandal engulfing the firm, but he said he wasn to return and clean up the mess.
Michael canada goose black friday sale Woodford, still an Olympus director despite being fired canada goose as CEO buy canada goose jacket cheap and blowing the whistle over the scam, described the meeting as a tense encounter with no handshakes or apologies Canada Goose Parka offered from the men who had sacked him barely a month Canada Goose online ago.
Instead, he said, the board had agreed that the once proud maker of cameras and medical equipment should strive canada goose replica to https://www.canadagoosejackets7v.com avoid being delisted from the Tokyo stock exchange, a sanction cheap Canada Goose that would make the business more vulnerable to takeover.
just see a lot of suffering and misery for no gain, Woodford said of the prospect of a delisting.
we should have the investigation, it shouldn be fudged, he told a news conference after the almost two hour meeting at Olympus Tokyo headquarters, where he was mobbed by reporters and TV crews as canada goose deals he entered and left the building.
Woodford, back in Japan for the first time since fleeing the country right after his October 14 sacking, said there had been no talk at the meeting of him returning to his former post.
not begging canadian goose jacket to come back, he canada goose clearance sale said, though he added that he was willing to do so if shareholders desired it. didn volunteer for this, I not a canada goose clearance hero, he added.
was a tension in Canada Goose Jackets the room, but there seemed to be an understanding that it was in no one interest to raise the temperature, he said. didn shake my hand and I didn offer mine. We said good morning and goodbye.
Major foreign shareholders have called for Woodford to be immediately reinstated, saying he can restore faith in the canada goose coats on sale 92 year old firm.
The visit by Canada Goose Online Woodford, who also met this week with police and other investigators probing the scandal, coincided with a rally in Olympus shares, which have been buoyed by speculation the firm can escape delisting.
The stock rose as much as 25 percent on Friday before closing up 8.6 percent at 1,107 yen. It has rebounded a whopping 77 percent in just four trading days, though it is still down more than half since the day before Woodford dismissal.
Woodford said Olympus could survive as an independent entity as long as banks, so far supportive, kept backing it.
DUBIOUS DEALS, CRIME canada goose store SUSPICION Olympus had fired Woodford, buy canada goose jacket a rare foreign CEO in Japan, alleging he had failed to adapt to Canada Goose Outlet Japanese culture and the company management style. Woodford says he was axed for questioning dubious merger and acquisition payments.
Suspicion has swirled about possible links between the payments and organised crime.
would be concerning if organised crime was Canada Goose Coats On Sale involved. but there no evidence of that to date, he said.
Former Olympus CEO Michael Woodford leaves after canada goose coats his news conference about the Olympus’s scandal in Tokyo November 25, 2011. REUTERS/Kim Kyung Hoon
The 51 year Canada Goose Outlet old freckle faced Briton had left Japan after his dismissal citing concerns for his safety.
Olympus first denied any wrongdoing, but later admitted it had hidden investment losses from investors for two decades and used some of $1.3 billion in M payments to aid the cover up.
Woodford said after Friday board meeting that the top priority was 2018 canada goose outlet for Olympus to meet a December 14 deadline for filing its financial statements for the six months to September after which, he added, current management should go.
The company would be automatically delisted if it misses the deadline. Even if it meets the deadline, the Tokyo Stock Exchange can still delist it, depending on the scale of past misstatements or if a link is found to gangsters.
A third party panel appointed by Olympus to look into the accounting scam said canada goose outlet store locations this week that it had not yet found any evidence of involvement by organised crime.
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AUDITORS, GOVERNANCE The Olympus affair has raised questions about whether its auditors, the Japanese arms of global giants KPMG and Ernst Young, should have done more to follow up on red flags.
KPMG chairman, Michael Andrew, on Friday called for a global set of standards for the auditing industry but said that KPMG had done the right thing in the actions it took pertaining to the Japanese company.
is pretty evident to me is that it is a very, very significant fraud, Andrew said in a speech in Hong Kong.