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About: Olympus scandal     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatAccountingScandals, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: Thingyago:Abstraction100002137yago:Act100030358yago:Event100029378yago:Gossip107223170yago:Informing107212190yago:PsychologicalFeature100023100yago:Report107217924yago:YagoPermanentlyLocatedEntityyago:Scandal107223811yago:SpeechAct107160883yago:WikicatAccountingScandals New Facet based on Instances of this Class

The Olympus scandal was a case of accounting fraud exposed in Japan in 2011 at optical equipment manufacturer Olympus. On 14 October, British-born Michael Woodford was suddenly ousted as chief executive. He had been company president for six months, and two weeks prior had been promoted to chief executive officer, when he exposed "one of the biggest and longest-running loss-hiding arrangements in Japanese corporate history", according to The Wall Street Journal. Tsuyoshi Kikukawa, the board chairman, who had appointed Woodford to these positions, again assumed the title of CEO and president. The incident raised concern about the endurance of tobashi schemes, and the strength of corporate governance in Japan.