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

Mr Woodford said his lawyers had filed legal papers in London seeking unspecified damages on top of the salary Olympus would have paid him during the remaining three years of his four-year contract. The ousted British CEO of disgraced Olympus Corp, who blew the whistle on a $1.7 billion accounting fraud, dropped his bid to return to lead the medical device maker, blaming cozy ties between its Whistleblower Michael said Friday he would over his sacking after a "depressing" lack of support from Japanese institutional shareholders scuppered a bid get his old job back. The former chief executive ‘Former CEO Woodford to sue Whistleblowing former chief executive Michael said Friday he will his ex-employer over his dismissal, just hours after announcing he was ditching a campaign get his job Tags: former, woodford, olympus, business, said in Ocber it fired Mr. because he failed understand the company’s management style and Japanese culture. “There are no grounds whatsoever for dismissal,” he said. (Reuters) - The ousted British CEO of disgraced Corp, who blew the whistle on a $1.7 billion accounting fraud, dropped his bid return lead the medical device maker, blaming cozy ties 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

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