Olympus executive dismissed amidst loss revelations - AutoPhotog : Photo Enthusiasts/Pros Forum

DPReview · 11-12-2011, 01:35 PM

Olympus has dismissed its executive vice president after admitting concealing losses on investments. In the most serious revelation since the departure of former chief executive Michael Woodford, the company said that funds from previous acquisitions had been used to hide losses on securities investments since the 1990s. The news saw Olympus shares fall in value by up to 30% during Tuesday's trading.

Click here to read more details from BBC News

Click here to read more details from the New York Times

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11-12-2011, 01:35 PM	#1 (permalink)
DPReview DPREVIEW RSS FEED Join Date: Dec 2009 Posts: 342	Olympus executive dismissed amidst loss revelations Olympus has dismissed its executive vice president after admitting concealing losses on investments. In the most serious revelation since the departure of former chief executive Michael Woodford, the company said that funds from previous acquisitions had been used to hide losses on securities investments since the 1990s. The news saw Olympus shares fall in value by up to 30% during Tuesday's trading. Click here to read more details from BBC News Click here to read more details from the New York Times Click here to view article in new window

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