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© Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.Woodford confident justice will be served in Olympus cover-up
By Yuri Kageyama TOKYO©2024 GPlusMedia Inc.
18 Comments
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Ed O Jidai
Good luck to what Mr. Woodford is trying to do.
I'm looking forward to see how far he gets.
gogogo
@rickyvee
Shareholders in Japan normally don't get involved in company business but they still have the same powers as other shareholders in other countries. Well see what happens, already two board members have quit, I guess they are going to get raked over.
rickyvee
@gogogo
this is japan where shareholders have very little sway on how a company is managed and run. and the only shareholders who are clamoring for woodford to return are a few foreign institutional investors who own 4%, which isn't much. i haven't heard many japanese investors hoping for the return of this "white" knight.
borscht
globalwatcher,
Thanks for the specifics.
Then, shouldn't the Olympus board quit en masse? Or at least, shouldn't the shareholders vote them out and vote in a whole new board, one that can deal with such ethical problems as lying to the shareholders?
cactusJack
In Japan, "justice" is a room of old men bowing for the cameras.
nath
Watch for the Movie in late 2012 or early 2013. Might make more money than "Wall Street" or "Social Network".
nutsagain
In a country where judges have been quoted as saying about those arraigned; 'no one has come before me and not been punished'. (sic) The medieval maze that is the Japanese judicial system is to put it simply, best avoided. This is a very weird system and if you've somehow gotten so much as a fingernail in it, it will slowly pull you in and grind one to powder. Scary ...
gogogo
@rickvee
I'm sure the shareholder think differently.
JT took my yesterdays correction :)
rickyvee
sorry, woodford, but whistleblowers are never welcomed back, regardless of how altruistic the action is.
nath
They thought he would act as other Japanese in his position would do, talk over it in the izekaya, accept a hefty bribe, and forget what has happened there.
So Woodford already has his "dream team" ready huh? I for one, am hoping that this new team would be more responsible in regards to the company, and their jobs.
MaboDofuIsSpicy
When they hired him they did not think he would look at the past?
The only way to move forward and improve the future is to see what was done in the past.
seesaw1
What justice is he talking about? His future luxurious Expat package and a holiday home is Cyprus or something?
globalwatcher
1)Develop Company Goals
Dictate on the direction of the company, by defining specific markets, observing competitors and deciding how the company will stand out
2)Buildi a Team within organizaton Execute fire, hire and lead the senior management team and set up corporate culture
3)Set Budgets
Set annual budget based on financial statement and market. Financial skills are important for such decisions and tasks.
4)Execute in Public Relations
He/she is the public face of the company in relation to media, shareholders and clients.
Bazza
I don't share his confidence, somehow.
Godan
Because "justice is blind" and the judicial system in Japan consists of judges who know right from wrong and how to mete out punishments that fit the crime - riiiiight!
Elbuda Mexicano
Just hope this guy does not have any issues later with the Japanese yakuza that are behind this idiot scandal at Olympus as Takahashi san had told me.
borscht
About this case, I have a question for you business types out there. In other countries, the US to be specific, what exactly is the board of directors supposed to do? Do they just sit around and nod when the majority stockholder speaks or do they have an oversight responsibility? Are boards of directors made up of major stockholders or friends of the company?
What, in other words, are the responsibilities of boards of directors?
some14some
yeah, justice will be done BUT in Japanese style much different than normal world standard. I mean unique Anime Type !