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Olympus president, 5 other execs to resign in April over cover-up


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The insane are running the asylum.

7 ( +7 / -0 )

yubaru you are right ... prob using remaining time to some how save their bxxxtt

0 ( +0 / -0 )

“I want to fulfil my responsibility for the benefit of stakeholders

NOW you do??! If you had done this in the first place none of this would have happened.

WH??! arent these men in jail?

6 ( +7 / -1 )

How can these people be trusted to do anything in the interest of the stockholders or the company when they have already brought it to it's knees? They should be sh!t canned with no benefits nor retirement package, and an interim board put in place.

BTW, I wonder what kind of severance the company will give these guys for their many years of dedicated service.

1 ( +1 / -0 )

By the beginning of next year, I guess that more than half of them will end us as presidents, chairmen or advisers to the numerous small firms that supply components or other services to Olympus. All will have been forgiven or forgotten. The J-media is certainly playing down their activities.

6 ( +6 / -0 )

Hardly a recommendation for the company. You fire the person who told you of the illegality occurring, and replaced him with one of the people doing it.

If this is the way they treat their shareholders, how do they regard their customers?

7 ( +7 / -0 )

These geezers should not resign, they should be fired ASAP and be slapped with criminal charges.

5 ( +5 / -0 )

In April? I guess he wants his paycheck until then. The least he could do is work for free.

And yes, charges need to be filed. Now!

So glad Woodford blew the whistle. I have been enjoying the show - shame more companies aren't stepping up and tossing the old gits to the side and trying to salvage what is left in this country.

2 ( +4 / -2 )

@Elvensilvan Agreed!!!

0 ( +0 / -0 )

They are not bowing nearly deep enough.

3 ( +3 / -0 )

This is all so so so incensere, and utterly pathetic.

It really makes you wonder what scale of white collar crime one old school J-geezer needs to be suspected of before he is even investigated by the keystones etc

Yet at the same time grandpas & grandmas are arrested daily at supermarkets all across the country for shoplifting, WTF!

3 ( +3 / -0 )

They need to set a record streight for all Japanese executives. The concequence is very high for wrong doers. No retirement benefits and entitlements are allowed, and the justice will prevail for those global shareholders who lost millions.. Hope all Japanese business executives get a strong message on ethics from this case.

0 ( +0 / -0 )

If you are a regular employee and you steal something small like paper or files, you would get fired immediately. Rightly so, for it is unacceptable behaviour.

So why are these crooks not fired and arrested pending a full enquiry? Why are they allowed to stay in thier roles? The amount that they have covered up is staggering.

Why the double standards???

1 ( +1 / -0 )

Hey no rush. Make sure what's left of the company is a penny stock by then. You can then bow again.

0 ( +0 / -0 )

Despite being sued by his own company, Takayama said Wednesday: “I want to fulfil my responsibility for the benefit of stakeholders until handing the company over to new directors."

Yeah, right. They want to resign at the end of the fiscal year because doing so before then would probably have an effect on the massive severance packages I'm quite sure they'll receive for resigning (rather than being fired).

Nicky: "WHY aren't these men in jail??"

Because this is Japan, and this kind of action is often rewarded. It's no coincidence Japanese corporate governance is under fire. I bet the lawsuits against them won't even bear any fruit.

0 ( +2 / -2 )

Why are they waiting until April to resign....are the bonuses given out in March?

2 ( +2 / -0 )

Would like to see a Dogeza performed! please do a Dogeza lol the classic form of an apology ^_^

0 ( +0 / -0 )

For those who have not seen what a dogeza looks like : http://www.youtube.com/watch?v=bG6oT5kYI0Y

0 ( +0 / -0 )

why wait? oh, much more pilfering left to do.

1 ( +1 / -0 )

The fact that the Olympus board is allowing these criminals to resign, and not be fired and thrown in jail, is all anyone needs to know about corporate governanace and fiduciary responsibility in Japan. And, trust me, the outside world/investors are taking note.

0 ( +1 / -1 )

The reason of their stay until April is that they want to negotiate severance packages (entitlements and benefits) or golden parachutes before letting themselves go. They want to make sure these packages are not a subject of legal subrogations from law suits. They are still dremin.......and unrealistic.

1 ( +1 / -0 )

yeah thats it... bow your heads and all will be forgiven. what a bunch of crooks!!

0 ( +0 / -0 )

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