BBC News: Business Bites: Shareholders vote in new board for Olympus

April 20th, 2012

BBC News
20 April 2012

Shareholders of the Japanese camera and medical equipment maker Olympus have voted in a new board of directors in an attempt to put its massive accounting scandal behind it.

However, the company’s former boss Michael Woodford – whose dismissal last October led to the revelation of a $1.5bn (1.1bn euros; £1bn) accounting fraud – poured scorn on the supposed shake-up of the company.

He has threatened to take legal action to have the results of the vote annulled.

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