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I’m not begging to return, says former Olympus CEO

The British former chief executive of Japan’s Olympus emerged from a frosty meeting of directors on Friday, convinced its board will eventually quit over an accounting scandal engulfing the firm, but he said he was not begging to return to clean up the mess.

Michael Woodford, still an Olympus director despite being fired as chief executive and blowing the whistle over the scam, described the meeting as a tense encounter with no handshakes or apologies offered from the men who sacked him barely a month ago.

Instead, he said, the board had agreed that the once-proud maker of cameras and medical equipment should strive to avoid being delisted from the Tokyo stock exchange, a sanction that would make the business more vulnerable to takeover.

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(Source: scmp.com)