The former CEO of Olympus, who blew the whistle in 2011 on a massive accounting scandal at the medical equipment maker, has won a London court battle over alleged wrongdoing linked to his £64 million (¥9.4 billion) pension.
The Olympus U.K. subsidiary KeyMed sued Michael Woodford and former company director Paul Hillman in 2016, alleging they had breached their duties as directors and trustees of a defined benefit pension plan and conspired to maximize their pension benefits by unlawful means.
London High Court Judge Marcus Smith said Monday he saw no evidence of dishonest or improper conduct by the company veterans, adding that any failings identified by KeyMed could be attributable to "an innocent failure of process" in a busy company.