View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
June 11, 2012

Olympus settles with whistleblower

Olympus is to payout a settlement of £10m ($15.5m) to former chief executive Michael Woodford, who blew the whistle on the camera maker’s faulty accounts last year.

The settlement comes after Woodford, who was the first UK leader of the Japanese company, filed an action against Olympus at the UK Employment Tribunal for unfair dismissal.

The Olympus $1.1bn balance sheet hole came to light after Woodford prompted questions over questionable acquisition deals, after being fired by the firm in late 2011.

 

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to International Accounting Bulletin