Reported about 1 month ago
Olympus Corporation has dismissed CEO Stefan Kaufmann following an investigation into allegations of illegal drug purchases, marking a significant exit for the executive after less than two years in charge. The company's stock dropped over 7% in reaction to the news. Olympus stated that Kaufmann's behavior was inconsistent with the company's values, but further details about the allegations remain undisclosed. Meanwhile, interim leadership will be assumed by Chairman Yasuo Takeuchi. This incident highlights ongoing challenges for Olympus, which has previously faced scrutiny regarding foreign executives.
Source: YAHOO