The German CEO of main Japanese optical tools producer Olympus has stepped down after allegedly shopping for unlawful medication, the corporate stated on Monday.
Stefan Kaufmann grew to become chief govt officer in April 2023, having served as a board member since 2019. He first joined the European arm of Olympus in 2003.
Olympus shares plunged 6% in morning commerce as the corporate apologised in an announcement “for the concern this has caused to our shareholders, customers and all stakeholders.”
“Upon receiving an allegation that Mr Stefan Kaufmann had purchased illegal drugs, Olympus, in consultation with outside legal counsel, immediately investigated the facts, made a report to the investigative authorities, and cooperated fully with their investigation,” it stated.
The corporate’s board of administrators then “unanimously determined” that Kaufmann “likely engaged in behaviours that were inconsistent with our global code of conduct.”
Kaufmann, who’s reportedly the corporate’s second non-Japanese president, was requested to supply his resignation which the board then accepted, Olympus added.
Olympus stated in 2020 it was promoting its struggling digicam division to give attention to medical tools. It had been within the digicam enterprise since 1936, however struggled together with trade rivals after the arrival of smartphones.
The storied firm has seen success within the medical tools discipline, and controls a lot of the worldwide endoscope market.
Olympus chairman Yasuo Takeuchi will stand in as CEO “for the time being” whereas the board’s nominating committee considers “all options for a successor,” the corporate stated.
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