TOKYO (Reuters) – The ousted British CEO of Olympus Corp, who blew the whistle on a $1.7 billion accounting fraud, dropped his bid to return to the medical device maker, blaming cozy ties between its scandal-tainted management and big Japanese shareholders and saying the saga had taken its toll on his family. Michael Woodford’s campaign against its management rocked the once-proud maker of endoscopes and cameras, but failed to win over Japanese institutional shareholders including Olympus’ main lenders, who support a board that has been castigated for insufficient oversight. …

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Michael Woodford’s campaign against its management rocked the once-proud maker of endoscopes and cameras, but failed to win over Japanese institutional shareholders including Olympus’ main Olympus said in October it fired Mr. Woodford because he failed to understand the company’s management style and Japanese culture. “There are no grounds whatsoever for dismissal,” he said. Michael , the British executive forced out of Japanese camera maker for blowing the whistle on an alleged billion pound fraud, has abandoned his bid re-join the electronics giant. Woodford to sue Olympus, drops The ousted British CEO of disgraced Corp, who blew the whistle on a USD 1.7 billion accounting fraud, dropped his bid return lead the medical device maker, blaming cozy ties between its Tags: woodford, olympus, drops, leadership, The ousted British chief executive of has abandoned his three-month battle replace the management of the scandal-ridden company, reports Reuters. Michael blew the whistle on So maybe not all the invesrs felt was the right man take forward, but you would have thought some of them would back him, and that a few more vociferously demand the KYO, Jan 6 (Reuters) - The ousted British CEO of disgraced Corp (7733.T), who blew the whistle on a $1.7 billion accounting fraud, dropped his bid return lead the medical device

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