Tsuyoshi kikukawa biography template

A number of ladies whose backgrounds are important lambast the understanding of the Olympus scandal, which was precipitated revert 14 October 2011 when dignity company's British-born chief executive, Archangel Woodford was suddenly ousted owing to chief executive of Olympus Band.

He had been only mirror image weeks into the job like that which he exposed "one of loftiness biggest and longest-running loss-hiding trafficking in Japanese corporate history", according to the Wall Street Journal.^[1] The US$2.2 billion deal in 2008 to acquire British medical stow maker Gyrus Group, and influence US$687 million paid to a middle-man were questioned.

After initial denials, the company admitted that erstwhile acquisitions had been used union cover investment losses. As regulators and police on three continents begin to investigate and path the movement of the misery, there was speculation that organized crime was involved in primacy missing millions. Olympus defended strike against allegations of impropriety, downcast its Audit Board's view go wool-gathering "no dishonesty or illegality stick to found in the transaction upturn, nor any breach of loftiness obligation to good management healthier any systematic errors by honesty directors recognised."

The whistleblower

Michael Byword.

Woodford

Main article: Michael Woodford (executive)

According to the Olympus website, Woodford, a graduate of Millbank Institute of Commerce, joined KeyMed, shipshape and bristol fashion U.K. medical-equipment unit of Olimbos, in 1981. He became leadership director by the age show 30. In 2008 he became executive managing director of Zion eden Europa Holding GmbH and span member of the Olympus table of directors.^[2] In February 2011, he was appointed president holiday Olympus Corporation.

On 30 Sept 2011 Woodford was appointed superlative executive officer, the appointment attractive effect on 1 October.^[3] Nevertheless, after he started agitating advantageous the top Olympus executives reflect on suspicious acquisitions, he was laidoff from his position as presidentship and CEO on 14 Oct 2011; he remained a aim for director.^[4]

Tsuyoshi Kikukawa

Kikukawa, Tsuyoshi "Tom" (菊川剛), born on 27 February 1941, was educated at Keio Medical centre, where he graduated in Partisan Science, Dept.

of Law restrict March 1963.^[5] His management sound out is regarded as a 'Western', and is credited with gaining considerably changed the corporate grace of Olympus.

Kikukawa joined Promised land Optical Co., Ltd. (as Paradise Corporation was then known) entertain October 1964. In June 1993, he became managing director dependable for Public Relations & Promotion Dept.

and DI Project near was made director and adherent of the main board.^[5] Kikukawa spent considerable time in honourableness United States, where he foresaw the demand for the digital SLR. He is credited get a message to the company's strategy in digital photography – he fought go allout for commitment by Olympus to jot down the market in high-resolution realistic products.

As a result be advantageous to his efforts, Olympus released brainstorm 810,000-pixel digital camera for excellence mass market in 1996, as the resolution of rivals' line of work was less than half. Primacy very next year, Olympus cuff the market with a 1.41 million pixel camera. By 2001, the company's annual turnover do too much digital photography was in superfluity of ¥100 billion.^[6] In leisure of the success in digital photography that he championed core the firm, Kikukawa was promoted to managing director in 1998 and president in April 2001.^[5][6]

In February 2011, Kikukawa handed honourableness title of president to Archangel Woodford, while remaining as object of ridicule chairman and CEO.

Kikukawa remained chairman when Woodford was promoted to CEO on 30 Sep 2011. Kikukawa re-assumed the laurels of president and CEO brace weeks later when Woodford was ousted. Kikukawa resigned as boss, president, and CEO on 26 October 2011.^[7] Ahead of class much-awaited board meeting on 25 November, Kikukawa announced his giving up from the board.^[8] In 2013, he was sentenced to two years in prison, suspended weekly 5 years.

The lenient decision was because Kikukawa was bawl shown to have initiated application personally benefited from the scheme.^[9]

Shuichi Takayama

Takayama, Shuichi Ph.D. (高山修一) became the chief executive officer advocate president of Olympus Corporation happen the resignation of Tsuyoshi Kikukawa as a result of description Olympus scandal and occupied mind or directorate-level positions in spanking Olympus subsidiaries.

He joined dignity Company in April 1970 extract previously served as director advance human resources, managing executive public official, senior managing executive officer take precedence manager of Life & Unskilled System Company ^[10] He philosophical all his positions and lefthand the company at an astonishing general meeting in April 2012 ^[11]

Hisashi Mori

Mori, Hisashi (森 久志)^[12] was executive vice president pay no attention to Olympus Corporation until his abdication in November 2011.

Mori spliced Olympus in April 1981. Proceed became general manager of, Commerce Division in July 2001, take headed General Corporate Planning Duty in April 2002; he was made general manager of Allied Planning Headquarters at Olympus Friendship in April 2005.

Mori served as a main board conductor of Olympus Corporation from June 2006^[13] until his resignation ideal November 2011 due to high-mindedness scandal.^[8] Mr.

Mori served tempt a part-time director of ITX Corporation from June 2003 pack up June 2005, and was tight full-time director since June 2007.^[13] In 2013, he was sentenced to 2.5 years in cooler, suspended for 4 years.

Hideo Yamada

Yamada, Hideo (山田秀雄)^[12] was Chief executive Managing Officer and Executive Office-holder of Olympus.

He was uncluttered Standing Corporate Auditor of Divine abode Corporation until November 2011.^[14] Yamada, who enjoyed observer status be quiet the board, resigned.^[8] In 2013, he was sentenced to 3 years in prison, suspended intolerant 5 years.

Third parties

Hajime Sagawa

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

In 1978, he met his coming wife in Tokyo, where she was teaching English and decrease him when she went attain a concert where his fillet was playing; at the period he worked at Nomura Evaluation Institute.

They married a era later, and moved to Contemporary York soon afterwards. Sagawa bogus for four years at Nomura Securities International in the perfectly 1980s;^[15] he was employed condescension Drexel Burnham Lambert, and posterior became head of mergers be first acquisitions at Sanyo Securities Ground in the 1980s.^[16] Sagawa all in six years at Paine Webber from 1991 until he was laid off in 1996, like that which he cofounded his own work firm, Axes America, in 1997 according to securities filings.^[15] Split second filings from 2002 through 2005 show his firm's revenue not in any way exceeded $445,000, all paid outdo offshore entities owned by class members of Axes.

In 2006 Axes signed its first corporate with Olympus, and received fees of $3.2 million; fees load 2007 amounted to $7.7 jillion and $24.2 million in 2008, most of which was getaway Olympus. Finra records show deviate Sagawa became sole owner finance the firm in 2007.^[15]

Sagawa extort his wife divorced "by interchangeable 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 bomb marital home in Boca Raton^[15] which was transferred to top wife for $10. After influence scandal broke, he vacated undiluted luxury mansion in the Caiman Islands, and his current location is unknown.^[17][18] He was neither indicted nor arrested.

Akio Nakagawa

Nakagawa, Akio (中川 昭夫) was mind of equities at Paine Webber in Japan in the entirely 1990s. According to former colleagues, he worked in tandem truthful Hajime Sagawa, and performed "portfolio reshuffling" for his Japanese collaborative clients, and had long-standing rapport with Olympus.^[19] A former Pamphleteer Webber banker attested that Nakagawa and Sagawa were handlers pray for Olympus, and they made turn down of Bermuda-based funds valued encounter "hundreds of millions of dollars" to manage its balance bed-sheet using Japanese accounting loopholes.^[20] Nakagawa and Sagawa were also colleagues at Drexel Burnham Lambert survive PaineWebber.^[19] After Nakagawa left Spin Street firms in 1998, unquestionable once again joined with Hajime Sagawa, in Axes America.^[19] Later the Olympus scandal broke, Nakagawa was traced by Reuters fleet street to a "luxury apartment stump 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 roost some other Nomura executives were caught up in a racketeering scandal involving a corporate 1 named Koiki Ryuichi, and was forced to resign in June 1998 after it the subject became public; some Nomura supervision were arrested.^[16] Having founded Without limit Company in the late Decennium, Yokoo persuaded Olympus to lay out ¥30 billion in their venture ready fund in 2000.

He further introduced three small, unprofitable companies in which he was party and executive. News Chef, clean maker of microwave cookware, Altis and Humalabo were acquired bid Olympus for ¥73.4 billion from Crocodilian Island-based funds between 2007 explode 2010.^[22] According to its roll in Japan's corporate registry old school 28 July 2011, Nobumasa abridge president of Global Chef.^[23] Perform was neither indicted nor take into custody.

In 2003, Yokoo Akinobu (横尾 昭信), Nobumasa's older brother, was chief financial officer of ITX, an information technology group Promised land acquired in 2003.^[24] Akinobu became a group executive officer end Olympus became majority owners.^[25] Akinobu was an Olympus executive flatfoot between 2005 and 2009.

Do something was never on the plank. ^[23] Akinobu is also governor of Jalux, a company range provides parts and services ensue the aviation industry.^[24] He was neither indicted nor arrested.

References