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Olympus Shareholders Must Select New Board, Southeastern Says

December 01, 2011

Dec. 1 (Bloomberg) -- Olympus Corp. shareholders should be given the chance to vote for a new board, Southeastern Asset Management Inc. said.

“Olympus needs a new board of trustworthy and credible directors and corporate auditors with a majority of independent directors, determined by shareholder vote,” Josh Shores, a London-based principal at Olympus’s biggest overseas shareholder, said in an e-mailed statement. “A new slate of directors proposed only by the current board would not be sufficient.”

To contact the reporter on this story: Chris Cooper in Tokyo at

To contact the editor responsible for this story: Ben Richardson at

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