It looks like Olympus ex-CEO Michael Woodford will be getting his wish after all as the Olympus scandal continues to unfold. A day after an independent panel issued a report that slammed the company’s top management as being rotten (though at the same time finding no links to organized crime), the entire board of directors has indicated that it will step down. Perhaps confident that the company will soon be back on the right track, investors have pushed the stock price back up to over ¥1,100 — up from its 52 week low of ¥424 back in early November.
Image credit: board room by @MSG
Olympus Chairman and President Tsuyoshi Kikukawa resigned today under pressure from the company’s ongoing financial scandal. The 70-year-old was a 45-year veteran of the company and was the president in the late 2000s when the dubious payments took place. Former president Michael Woodford — the man whose accusations put Olympus in the spotlight — has stated in interviews that the entire board of directors at the company is “toxic”, “contaminated”, and needs to resign. However, a member of that same board has been named as Kikukawa’s replacement.
(via The Washington Post)
This is probably the strangest story you’ll read today. When Neil Berrett quit his job in 2009, he sent his boss a kindly written resignation letter written on a cake. The photo of Berrett and his cake become widely circulated, and received hundreds of thousands of views.
Last month, Berrett received an email from People Magazine asking for permission to use the cake photo in an article. Berrett replied asking that the magazine license the photo, but never received a response. The next day, he suddenly found that the magazine had gone ahead and used his photo in an article titled “Take This Job and Shove It! 8 Memorable Quitters“.