Olympus CEO resigns after allegations of illegal drug purchase, shares tumble
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2024
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Source: Reuters
CEO Resignation: Olympus Corp's CEO Stefan Kaufmann has resigned following allegations of purchasing illegal drugs, leading to a 6% drop in the company's shares. Yasuo Takeuchi, the previous CEO, will temporarily resume his duties.
Corporate History: This incident adds to Olympus' history of corporate scandals, including a notable accounting fraud case exposed by former CEO Michael Woodford thirteen years ago.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
