Scandal-plagued Olympus has announced that its entire board is resigning, and the company plans to install a former bank executive as its new chairman.
Olympus Corporation says it's suing 19 executives - including former chairman Tsuyoshi Kikukawa - for nearly $1.2 billion for their roles covering up years of fraud.
Ex-Olympus CEO and whistleblower Michael Woodford has given up his bid to be re-instated...and instead plans to sue for unfair dismissal.
Scandal-plagued Olympus is looking to rebuild its company board, with half the members being outside directors - but Woodford may be out of the running for CEO.
He was fired as Olympus's CEO, but Michael Woodford says the company's latest board meeting was "constructive" as it fights to stay listed on the Tokyo Stock Exchange.
Controversy is thickening around Olympus after firing its first non-Japanese CEO, admitting paying a suspicious $687 million to a middle-man. What's going on?