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. …

Quoted from Woodford to sue Olympus for unfair dismissal on Yahoo! News – Latest News & Headlines

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