Nov. 8 (Bloomberg) -- David Herro, chief investment officer of Harris Associates LP, said Michael C. Woodford should return to Olympus Corp. to rebuild the management after the company today said it used fees paid to advisers on a takeover to hide losses from investments in the 1990s.
“The investigation must continue to determine how much rot there is,” Herro said in an e-mailed comment to Bloomberg News. “And all responsible must, at a minimum, leave. Also, since the management’s credibility is nearly nonexistent, all of what they say must be verified.”
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