Olympus Corp. is planning to double the number of outside directors to constitute as much as half of its board to help reinforce oversight of management, sources said Thursday.
The step is a response to the current board’s failure to prevent the coverup of massive investment losses, a scheme that certain board members, including former Chairman and President Tsuyoshi Kikukawa, actually orchestrated, the sources said.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see this support page.
We humbly apologize for the inconvenience.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.
SUBSCRIBE NOW
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.