Olympus CEO resigns over alleged purchase of illegal drugs

CEO Stefan Kaufmann was asked to resign pursuing interior inquiry, Japanese steadfast says.

The overseas main enforcement of Japan’s Olympus has resigned pursuing an probe into allegations helium brought amerciable drugs, the aesculapian instrumentality shaper has said.

CEO Stefan Kaufmann, who had led the institution since April 2023, stepped down astatine the petition of the committee of directors, Olympus said successful a connection connected Monday.

Olympus said it initiated the probe aft receiving an allegation from an unspecified source.

“Based connected the results of the investigation, the Board of Directors unanimously determined that Mr. Stefan Kaufmann apt engaged successful behaviours that were inconsistent with our planetary codification of conduct, our halfway values, and our firm culture,” Olympus said successful a statement.

Olympus president Yasuo Takeuchi volition instrumentality the reins arsenic CEO “for the clip being” portion the board’s nominating committee considers a imperishable successor, the institution said.

“Olympus apologises profoundly for the interest this has caused to our shareholders, customers and each stakeholders,” the institution added.

Kaufmann had served arsenic a committee subordinate since 2019 and worked for the institution since 2003.

The German nationalist was the archetypal non-Japanese enforcement to beryllium appointed CEO of the institution since Michael Woodford, the British enforcement who was fired successful 2011 aft blowing the whistle connected colleagues for falsifying institution records to conceal losses of $1.7bn.

Al Jazeera was incapable to scope Kaufmann for comment.

Olympus shares fell much than 7 percent pursuing the news.

Olympus, founded successful Tokyo successful 1919, was champion known for making cameras earlier becoming a planetary person successful endoscopes.

Japan has strict laws against cause usage that person ensnared overseas businesspeople successful the past.

In 2015, Julie Hamp, an American nationalist relations enforcement with Toyota Motor, spent astir 3 weeks successful a Tokyo situation aft being arrested connected suspicion of importing the painkiller oxycodone.

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Al Jazeera and quality agencies