The Story Behind the Olympus Scandal

Even though the entire board of Olympus has since resigned only a few days ago, this article published around two weeks ago, is still a riveting story of subversion and corruption. It also highlights the conflicts of culture that can arise when a Westerner takes the helm at a Japanese company.

“Woodford exploded. “I’m the president of this company trying to understand $1.5 billion in transactions. Our profits last year were around $350 million. This is four to five years’ profit spent. Do you understand the magnitude of this?”

Mori was silent.

“Who do you work for, Mori-san?” Woodford asked. “Who do you work for?”

He expected Mori to say Olympus. Instead, he said, “I work for Mr. Kikukawa. I am loyal to Mr. Kikukawa.”

That’s when Woodford knew that, as he said, “something was terribly, terribly wrong here.””

The Story Behind the Olympus Scandal

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