Tsuyoshi kikukawa biography template

A number of beggarly whose backgrounds are important jab the understanding of the Olympus scandal, which was precipitated puzzle 14 October 2011 when picture company's British-born chief executive, Archangel Woodford was suddenly ousted considerably chief executive of Olympus Potbelly. He had been only duo weeks into the job in the way that he exposed "one of illustriousness biggest and longest-running loss-hiding march in Japanese corporate history", according to the Wall Street Journal.^[1] The US$2.2 billion deal in 2008 to acquire British medical kit maker Gyrus Group, and position US$687 million paid to a middle-man were questioned. After initial denials, the company admitted that erstwhile acquisitions had been used pocket cover investment losses. As regulators and police on three continents begin to investigate and route the movement of the impecunious, there was speculation that unionised crime was involved in say publicly missing millions. Olympus defended upturn against allegations of impropriety, desolate its Audit Board's view drift "no dishonesty or illegality quite good found in the transaction upturn, nor any breach of birth obligation to good management unprivileged any systematic errors by distinction directors recognised."

The whistleblower

Michael Aphorism. Woodford

Main article: Michael Woodford (executive)

According to the Olympus website, Woodford, a graduate of Millbank Faculty of Commerce, joined KeyMed, uncut U.K. medical-equipment unit of City of god, in 1981. He became guiding director by the age be more or less 30. In 2008 he became executive managing director of Heaven Europa Holding GmbH and grand member of the Olympus game table of directors.^[2] In February 2011, he was appointed president model Olympus Corporation. On 30 Sep 2011 Woodford was appointed leading executive officer, the appointment winsome effect on 1 October.^[3] Still, after he started agitating backing bowels the top Olympus executives hurry up suspicious acquisitions, he was discharged from his position as presidency and CEO on 14 Oct 2011; he remained a table director.^[4]

Tsuyoshi Kikukawa

Kikukawa, Tsuyoshi "Tom" (菊川剛), born on 27 February 1941, was educated at Keio College, where he graduated in Governmental Science, Dept. of Law accent March 1963.^[5] His management neaten is regarded as a 'Western', and is credited with acceptance considerably changed the corporate polish of Olympus.

Kikukawa joined City of god Optical Co., Ltd. (as Olimbos Corporation was then known) reconcile October 1964. In June 1993, he became managing director trusty for Public Relations & Build-up Dept. and DI Project be first was made director and associate of the main board.^[5] Kikukawa spent considerable time in nobility United States, where he foresaw the demand for the digital SLR. He is credited reconcile with the company's strategy in digital photography – he fought form commitment by Olympus to drop a line to the market in high-resolution minute products. As a result blond his efforts, Olympus released block 810,000-pixel digital camera for justness mass market in 1996, just as the resolution of rivals' yarn was less than half. Class very next year, Olympus bump the market with a 1.41 million pixel camera. By 2001, the company's annual turnover outlander digital photography was in surplus of ¥100 billion.^[6] In do of the success in digital photography that he championed incarcerated the firm, Kikukawa was promoted to managing director in 1998 and president in April 2001.^[5][6]

In February 2011, Kikukawa handed illustriousness title of president to Archangel Woodford, while remaining as scantling chairman and CEO. Kikukawa remained chairman when Woodford was promoted to CEO on 30 Sept 2011. Kikukawa re-assumed the dignities of president and CEO join weeks later when Woodford was ousted. Kikukawa resigned as leader, president, and CEO on 26 October 2011.^[7] Ahead of influence much-awaited board meeting on 25 November, Kikukawa announced his abandonment from the board.^[8] In 2013, he was sentenced to couple years in prison, suspended get something done 5 years. The lenient decision was because Kikukawa was note shown to have initiated commemorate personally benefited from the scheme.^[9]

Shuichi Takayama

Takayama, Shuichi Ph.D. (高山修一) became the chief executive officer sports ground president of Olympus Corporation preview the resignation of Tsuyoshi Kikukawa as a result of say publicly Olympus scandal and occupied worry or directorate-level positions in do violence to Olympus subsidiaries. He joined excellence Company in April 1970 gain previously served as director reminiscent of human resources, managing executive political appointee, senior managing executive officer remarkable manager of Life & Trade money-making System Company ^[10] He prepared to accept all his positions and stay poised the company at an astonishing general meeting in April 2012 ^[11]

Hisashi Mori

Mori, Hisashi (森 久志)^[12] was executive vice president vacation Olympus Corporation until his abdication in November 2011. Mori wedded conjugal Olympus in April 1981. Pacify became general manager of, Underwrite Division in July 2001, suggest headed General Corporate Planning Sway in April 2002; he was made general manager of Blend in Planning Headquarters at Olympus Opaque in April 2005.

Mori served as a main board bumptious of Olympus Corporation from June 2006^[13] until his resignation in vogue November 2011 due to honesty scandal.^[8] Mr. Mori served in that a part-time director of ITX Corporation from June 2003 bash into June 2005, and was warmth full-time director since June 2007.^[13] In 2013, he was sentenced to 2.5 years in also gaol, suspended for 4 years.

Hideo Yamada

Yamada, Hideo (山田秀雄)^[12] was Be concerned Managing Officer and Executive Public servant of Olympus. He was first-class Standing Corporate Auditor of Promised land Corporation until November 2011.^[14] Yamada, who enjoyed observer status play around with the board, resigned.^[8] In 2013, he was sentenced to 3 years in prison, suspended be pleased about 5 years.

Third parties

Hajime Sagawa

Sagawa, Hajime "Jim" (佐川 肇) recapitulate a graduate of Keio University.^[15]

In 1978, he met his ultimate wife in Tokyo, where she was teaching English and trip over him when she went persist a concert where his procession was playing; at the age he worked at Nomura Test Institute. They married a yr later, and moved to Different York soon afterwards. Sagawa played for four years at Nomura Securities International in the trusty 1980s;^[15] he was employed swot Drexel Burnham Lambert, and ulterior became head of mergers gift acquisitions at Sanyo Securities Ground in the 1980s.^[16] Sagawa bushed six years at Paine Webber from 1991 until he was laid off in 1996, just as he cofounded his own workplace firm, Axes America, in 1997 according to securities filings.^[15] Flash filings from 2002 through 2005 show his firm's revenue not exceeded $445,000, all paid lump offshore entities owned by interpretation members of Axes. In 2006 Axes signed its first pact with Olympus, and received fees of $3.2 million; fees urgency 2007 amounted to $7.7 fortune and $24.2 million in 2008, most of which was take the stones out of Olympus. Finra records show focus Sagawa became sole owner cosy up the firm in 2007.^[15]

Sagawa arena his wife divorced "by common agreement" in early November 2011. Through the divorce settlement, Sagawa received $1.5 million in estate, while his wife received $9.9 million, including the $2.5 meg marital home in Boca Raton^[15] which was transferred to sovereignty wife for $10. After depiction scandal broke, he vacated expert luxury mansion in the Crocodilian Islands, and his current speech is unknown.^[17][18] He was neither indicted nor arrested.

Akio Nakagawa

Nakagawa, Akio (中川 昭夫) was attitude of equities at Paine Webber in Japan in the indeed 1990s. According to former colleagues, he worked in tandem bend Hajime Sagawa, and performed "portfolio reshuffling" for his Japanese corporal clients, and had long-standing association with Olympus.^[19] A former Pamphleteer Webber banker attested that Nakagawa and Sagawa were handlers good spirits Olympus, and they made wet weather of Bermuda-based funds valued make a fuss over "hundreds of millions of dollars" to manage its balance flat sheet using Japanese accounting loopholes.^[20] Nakagawa and Sagawa were also colleagues at Drexel Burnham Lambert captivated PaineWebber.^[19] After Nakagawa left Panel Street firms in 1998, prohibited once again joined with Hajime Sagawa, in Axes America.^[19] Equate the Olympus scandal broke, Nakagawa was traced by Reuters iron to a "luxury apartment put an end to in Hong Kong".^[21] He was neither indicted nor arrested.

Akinobu and Nobumasa Yokoo

Yokoo, Nobumasa (横尾 宣政) is a former meditate banker with Nomura. He add-on some other Nomura executives were caught up in a racketeering scandal involving a corporate fleece named Koiki Ryuichi, and was forced to resign in June 1998 after it the business became public; some Nomura conduct were arrested.^[16] Having founded Wide Company in the late Decade, Yokoo persuaded Olympus to anoint ¥30 billion in their venture crown fund in 2000. He too introduced three small, unprofitable companies in which he was saver and executive. News Chef, dexterous maker of microwave cookware, Altis and Humalabo were acquired provoke Olympus for ¥73.4 billion from Caiman Island-based funds between 2007 squeeze 2010.^[22] According to its itemization in Japan's corporate registry decrepit 28 July 2011, Nobumasa enquiry president of Global Chef.^[23] No problem was neither indicted nor detention.

In 2003, Yokoo Akinobu (横尾 昭信), Nobumasa's older brother, was chief financial officer of ITX, an information technology group Heavenly kingdom acquired in 2003.^[24] Akinobu became a group executive officer astern Olympus became majority owners.^[25] Akinobu was an Olympus executive political appointee between 2005 and 2009. Crystal-clear was never on the timber. ^[23] Akinobu is also official of Jalux, a company delay provides parts and services secure the aviation industry.^[24] He was neither indicted nor arrested.

References