Bloomberg News

Olympus Board Votes to Replace Michael C. Woodford as President

October 13, 2011

Oct. 14 (Bloomberg) -- Olympus Corp.’s board of management voted to replace Michael C. Woodford as President due to disagreements over his method of management.

The Japanese optical-equipment maker said it would be “difficult” to fulfill its business plan under his management, in a statement to the Tokyo Stock Exchange today.

Chairman Tsuyoshi Kikukawa will double as president, the statement said.

To contact the reporter on this story: Go Onomitsu in Tokyo at gonomitsu@bloomberg.net

To contact the editor responsible for this story: Gearoid Reidy at greidy1@bloomberg.net


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