Japan Inc.'s Mountain of Governance Woes - Wall Street Journal

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BY JAMES SIMMS

Whatever the truth behind Michael Woodford's hasty exit as chief executive officer of Olympus, the debacle is another blemish on the image of corporate governance in Japan.

Mr. Woodford, who was dumped by Olympus last week, said his ouster was the result of daring to question fees paid in acquisitions before he joined the board. The company denied any wrongdoing Monday, blaming differences in management style.

Investors reacted by sending the shares down by almost 24%.

In the last few months ...

BY JAMES SIMMS

Whatever the truth behind Michael Woodford's hasty exit as chief executive officer of Olympus, the debacle is another blemish on the image of corporate governance in Japan.

Mr. Woodford, who was dumped by Olympus last week, said his ouster was the result of daring to question fees paid in acquisitions before he joined the board. The company denied any wrongdoing Monday, blaming differences in management style.

Investors reacted by sending the shares down by almost 24%.

In the last few months ...

17 Oct, 2011

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