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Sue and retain? Olympus' shoddy corporate governance practices
Disgraced Japanese camera and optical device maker Olympus has taken an unprecedented step to sue, yet retain, top executives involved in the nation’s worst accounting scandals.
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The move has thrown the spotlight on Japan’s reputation for weak corporate governance policies. Olympus says it is seeking $47 million in damages from 19 current and former directors—including President Shuichi Takayama—for either neglecting or failing to prevent the scandal. The Wall Street Journal says the directors ...
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