Former Olympus President and CEO Michael C. Woodford said Thursday that while he hopes to avoid a proxy fight over control of the company's boardroom, such a move may be unavoidable as current President Shuichi Takayama seems unwilling to work with him.
"If (a proxy fight) can be avoided, I think it would be for the good of the company, and for the good of (Japan)," Woodford said during a news conference at the Japan National Press Club in Tokyo. Woodford was fired as Olympus chief in October after blowing the whistle on the firm's coverup of massive investment losses.
Woodford, visiting Japan this week, said he is willing to meet with Takayama and seek ways the two can work together to solve the company's serious financial and corporate governance problems, and to ensure it survives the accounting scandal.