German CEO of Olympus resigns over alleged illegal drugs purchase

The company's board of directors then "unanimously determined" that Kaufmann "likely engaged in behavior that was inconsistent with our global code of conduct".

Interesting how this reaches the level of a forces resignation.

Yet the many execs involved in faking test results, tax avoidance, and other corporate malfeasance usually get by with extreme bows, regrets and a few months reduced pay?

Olympus chairman Yasuo Takeuchi will stand in as CEO "for the time being"

In unimpeachable Takeuchi-san we trust.

No mention of what drug, where the alleged purchase took place, just way too many unanswered questions here.

He's lucky he didn't get the same treatment as Nissan's Carlos Ghosn.

Whatever gets you through the night.

You wonder how long he’s been here, not to appreciate the tremendous risks in going off the reservation. Gaijin are always held to a higher standard than locals because 1) they can usually be trusted to behave accordingly, and 2) because when they do fall, the unedifying spectacle allows the locals to indulge in a little schadenfreude that makes them feel better about their own lives.

Foolish man to dump his career over drugs.

For whatever reason, they wanted him out fast. Don't even need to prepare a retirement package for him.

I read on another site that the police searched his house and found nothing!

Via Reuters, making it seem the drugs were likely discovered in Kaufmann's office at Olympus.

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According to Kyodo news agency, Olympus consulted the police about the matter. Police searched Kaufmann's house in June but found no illegal drugs, it reported, citing an unidentified investigative source.

A spokesperson for the Tokyo metropolitan police said the information was not something it had announced.

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https://www.reuters.com/business/healthcare-pharmaceuticals/olympus-says-ceo-steps-down-after-allegations-illegal-drug-purchase-2024-10-28/

Not only that, police are only investigating because Olympus reported their German CEO to authorities. An internal allegation of drug use - smells like a palace coup.

What drug?

in Japan or Germany or somewhere else?

Two key pieces of information missing in this story.

He's lucky he didn't get the same treatment as Nissan's Carlos Ghosn.

Let alone their (Olympus') previous gaijin victim, Michael Woodford

@Mike_Oxlong

From other news, he also never admitted and police couldn't find any illegal drugs in his house, all those allegation only started from an internal report.

Following the company’s suggestion, Kaufman offered his resignation to the board of directors. That’s admission of guilt.

I highly recommend Michael Woodford’s (ex-CEO of Olympus) autobiography to anyone wanting an inside view of the truth of working in the upper echelons of a Japanese company.

@Meiyouwenti

Following the company’s suggestion, Kaufman offered his resignation to the board of directors. That’s admission of guilt.

That's not necessary sometimes pressure can lead people people just to resign.

So where's the evidence, where's the proof about that drug so far? They said it was started in June, now October still nothing?

Seems not unlike the Nissan situation. Very sketchy. All sides

are very unbelievable.

Stitching this dude up for size. No arrests of course…just paralyzing levels of innuendo.

What illegal drug is it ? Illegal overseas too?

many questions to be answered

It's hard not to be sceptical about Olympus' claims. Given the history of Japanese corporations' treatment of their foreign CEOs, Kaufmann likely saw the writing on the wall and decided to bail.

Unless he actually did it of course...

He might have done it but who amongst us is a saint (author not included)?

Yet another "story" which begs more questions than it answers. Were drugs actually found? What drugs? Where? Were they his or were they planted?

I remember. a case maybe 10 years ago of a Toyota exec who got busted for bringing in illicit drugs into Japan. Turns out it was a drug commonly prescribed in many countries that wasn't approved/legal in Japan. I forget if it was Ritalin or an anti-depressant or whatever. In her case, IIRC, she was deported. She evidently knew it wasn't allowed and was trying to sneak it in. It still sucks- it wasn't like she was trying to deal in illicit drugs, it was prescribed for her personal use.

So...I'd like to know what drug he allegedly bought.

resigning isn’t an admission of guilt. sometimes it’s the realization that they can’t be effective anymore and/or they’ve just had enough and don’t want to deal with the crap that’s about rain down from innuendo and the press.

The job must be too stressful, reporting to his big boss in Tokyo must have been a huge burden.

a case maybe 10 years ago of a Toyota exec who got busted for bringing in illicit drugs

Julie Hamp; she got deported after a few weeks in the slammer. The drug was Oxycodone - a synthetic opioid that's very illegal in Japan (and other Asian countries) with good reason: it's one of the most abused opioids in America.

Ms. Hamp must be good at her job though. Toyota reinstated her a couple of years ago.

Olympus ought to be under police investigation for purchasing illegal drugs and planting them in his office. Until that is determined, it cannot be said Kaufmann is the likely criminal.

This is not offensive nor vulgar. It is a call for equal treatment under the law. Both parties must be investigated under these circumstances. That drugs were found in the CEO suite of a major Japanese company. There are two possibilities. The gaijin did it. Or his employers did. Assuming one side is wrong before a complete investigation is a miscarriage of justice.

Strangely there is no mention of what the drug was. Anyway, so far there have just been allegations.