What followed was international media furor which exposed one of the biggest scandals in japanese corporate history. He is 53 years of age, married to nuncy, a spanish national, and they have two children, edward 20 and isabel 18. Full exposure which premiered on monday the 75 minute documentary on the olympus scandal from the acclaimed japanese director hyoe yamamoto. Woodford first published his book terminated kainin in april from hayakawa shobo in japan.
In a frank interview with the financial times, woodford calls this utter nonsense and states his belief that his removal relates. The author pulls no punches regarding the doubts he went through in terms of the effects on his family and on the tens of thousands of ordinary employees of the company. Olympus corporate executives were hiding huge investment losses through complex takeover deals and secret offbalancesheet. Olympus and former ceo michael woodford reach deal bbc news. Michael woodford is british and lives also during times being ceo of olympus on the weekends with his family in london. Olympus whistleblower michael woodford tells of fear. Mr woodford worked with southendbased keymed before working his way up.
Olympus exceo michael woodford to sue company over dismissal. Michael woodford, 54, from thorpe bay, was first with southendbased keymed before working his way up through the ranks to become president and then chief executive of its parent company olympus. Michael woodford, a 30 year veteran of olympus, found himself in the middle of treachery and intrigue shortly after being appointed president in april 2011. Oct 15, 2012 woodford is now selling his book about the olympus scandal on amazon preorders here. When michael woodford was made president of olympus, he became the first. Nov 01, 2012 michael woodford s inside story on his whistleblowing antics at olympus is a sensational read. Keen to right the wrongs, michael also offered to return to olympus, but was rejected by shareholders. He rose through the ranks at olympus to become the first nonjapanese ceo of the centuryold company. Drawn from his experience of the olympus scandal and over 30 years of running companies, michael is an accomplished and captivating speaker for keynote, motivational, and afterdinner events. Olympus whistleblower eyes movie deal with le carre sons. He does not fit the description of a sentinel and will most likely not be winning awards for his efforts like michael woodford at olympus or sherron watkins at enron. The olympus scandal accounting fraud asu digital repository.
Michael christopher woodford, mbe born 12 june 1960 is a british businessman who was formerly president and coo april 2011 and ceo october 2011 of olympus corporation, a japanbased manufacturer of optics and reprography products joining olympus in 1981 and rising to manage its european operations, woodford was the first nonjapanese person to be appointed as the companys ceo in. To book michael woodford mbe please contact your jla agent. Michael woodfords inside story on his whistleblowing antics at olympus is a. In november 2012 woodford published a book about the olympus scandal, and a film was also underway. In october 2011, michael woodford was suddenly ousted as ceo of olympus corporation, a multibillion dollar japanese optical company. Former olympus ceo michael woodford has launched a scathing attack on the company, following his removal from his post. Olympus scandal whistleblower michael woodford how. Woodford stated his concerns that, far from learning from the scandal, japans. It nearly killed me says olympus ceoturnedwhistleblower michael woodford of writing about his dramatic exit from the japanese company following his 2011 exposure of massive corporate mismanagement.
The movie, to be called exposure, has won support from film4 and will be a firstperson account of the battle to uncover a. The olympus scandal was precipitated on 14 october 2011 when britishborn michael woodford was suddenly ousted as chief executive of international optical equipment manufacturer olympus corporation. Exposure, the story of a british whistleblower in japan the new. Michael woodfords showdown in exposure business insider. In an interview with amateur photographer magazine, woodford describes the strain on his personal life, and the process of writing a book about the experience with lawyers poring over every word. The olympus scandal was precipitated on 14 october 2011 when britishborn michael woodford was suddenly ousted. Former olympus chief executive tells of risks he ran in exposing fraud scandal at the digital camera company. The olympus case gives students an opportunity to analyze the factors and unique cultural environment that led to the accounting fraud in whistle blower michael woodford s perspective.
Michael woodford grew up in liverpool in the north of england, beginning his working life at lucas aerospace as a commercial management trainee. At the height of the madness that engulfed him last year, michael woodford has admitted, he fell into something of a ragged state. Former chief executive of olympus michael woodford, who was sacked after blowing the whistle over his concerns of dubious accounting practices at the firm, has called for other board members to. Nov 23, 2012 michael woodford got wind of the allegations of fraud worth over. Michael woodford had been the first foreign chief executive officer of a.
It nearly killed me exolympus ceo woodford looks back. Its also about the resistance of all his board colleagues and the japanese institutional investors. Former boss michael woodford on future of olympus bbc news. Michael woodford mbe add to favourites former global ceo, olympus. It nearly killed me exolympus ceo woodford looks back on. The scandal attracted global public attention, especially after the ceo and president of olympus at that time, michael woodford, was expelled by the board of directors. Gain an insight from those who have heard michael speak. Olympus had said woodford was removed from his post over a difference in strategic direction between him and the rest of the board of directors. When the truth at last came out, the board kept their jobs and the whistleblowing boss lost his. Britishborn michael woodford was an olympus veteran of 30 years, and previously executive managing director of olympus medical systems europa.
Michael woodford, just weeks after he exposed the scandal that cost him his job as olympus president. In april 2011 he was appointed president and coo of the olympus corporation the first western salaryman to rise through the ranks to the top of a japanese giant. It also provides students insights into a traditionally structured japanese company to identify the operation style and leadership distinctions from a u. May 30, 2012 olympus and its former ceo michael woodford have reached an outofcourt settlement over his sacking by the company. Professionalismmichael woodford and olympus wikibooks. After his removal, the scandal was fully exposed in the financial times, and woodford brought charges against olympus with the uk serious fraud office sfo. Olympus shares suffer as former ceo goes on the attack. Hed risen through the ranks of giant japanese firm olympus. We strongly recommend you read michael woodfords critically acclaimed book, exposure 2012. Time, in naming him a 2011 person who mattered michael woodford is a man who did not stand by and do nothing. With michael woodford, yoshimasa yamaguchi, shigeo abe, jonathan soble. How i went from ceo to whistleblower by michael woodford online at alibris.
Mr woodford had sued his former japanese employer for unfair dismissal after he. Sharing similar ethical dilemmas, whistleblowing also led to the compelling discussion during a recent oneonone interview with stephen sackur presenter of hardtalk, bbc and michael woodford, the former ceo of the olympus corporation in japan. The board of the japanese cameramaker lied about the mystery for weeks. In an interview with amateur photographer magazine, woodford describes the strain on his personal life, and the process of writing a book. Olympus whistleblower michael woodford is close to signing a film deal. Exposure is the story of how michael woodford exposed the dark heart of olympus. Michael woodford has 58 books on goodreads with 2606 ratings. Woodford caused quite a stir when he became a whistleblower two years ago, revealing in his own. Michael woodford could have spent years turning a blind eye to the shady dealings of corporate executives at olympus. As recounted in michaels book exposed, and the bbc documentary full exposure, the olympus tale takes in the yakuza, corporate secrecy, and japanese concepts of loyalty and reputation. The main problem of this book was that it should not include mr.
Michael woodford told of how he was petrified of being attacked by yakuza gangs after blowing the whistle on corruption at olympus, as he brought his story to life last night at the latest. He is now a keynote speaker focusing on corporate governance and building an ethical culture. As european director in 2008, woodford had noticed the strange goingson at the company such as the gyrus acquisition, which should have been within his scope but was instead handled from tokyo. Grigory rodchenkov is not your typical whistleblower. For other people named michael woodford, see michael woodford disambiguation. Feb 25, 2020 now, woodford recounts his almost unbelievable true story. Written by michael woodford the book describes what he did to reveal the accounting scandal as head of olympus.
In fact, some would even argue he shouldnt be called one. Olympus whistleblower michael woodford to sign film deal telegraph. The olympus scandal was precipitated on 14 october 2011 when britishborn michael woodford was suddenly ousted as chief executive of international optical equipment. After four months he was removed as ceo as recounted in michaels book exposure, and the bbc documentary full exposure. Nov 16, 2016 michael woodford mbe embodies daring greatly. The olympus scandal refers to a long period of accounting fraud directed by olympus executives and exposed by its brief ceo michael woodford in fall 2011. As you know the whole story ended with sony buying a 10% stack, some olympus managers got a fee to pay and no jail and woodford won a likely multimillion dollar settlement of his claim for unfair dismissal source. This english book and the japanese one shares a lot of same storyline this is a good read to learn what happened inside of the well known japanese company, olympus. He had been company president for six months, and two weeks prior had been promoted to chief executive officer, when he exposed one of the biggest and longestrunning losshiding arrangements in. Michael christopher woodford, mbe born 12 june 1960 is a british businessman who was formerly president and coo april 2011 and ceo october 2011 of olympus corporation, a japanbased manufacturer of optics and reprography products. Mar 23, 2014 michael woodford, the british exceo of olympus, the japanese manufacturer of optics and reprography products, is still in a slightly dazed state about the change in his life since blowing the. Nov 28, 2012 it nearly killed me says olympus ceoturnedwhistleblower michael woodford of writing about his dramatic exit from the japanese company following his 2011 exposure of massive corporate mismanagement.
Nov 26, 2012 michael woodford, the former ceoturned whistleblower of japans olympus, is close to signing a movie deal with the british film production company run by the sons of spy thriller author john le. Jul 04, 20 michael woodford grew up in liverpool and joined olympus as a medical equipment salesman, rising through the ranks to run its uk, mea and european businesses. More corporate whistleblowers and their stories all. The bestselling business book of 2012, now in paperback. Joining olympus in 1981 and rising to manage its european operations. Woodheads story of olympus financial shenanigans is straightforwardly told with enough personal color to engage our sympathies, although the paranoia about yakuza involvement turns out to be overblown. Oct 18, 2011 former olympus ceo michael woodford has launched a scathing attack on the company, following his removal from his post. Corporate scandal in japan and the case study of olympus.