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Olympus fired its boss over allegations that he bought illegal drugs.
German businessman Stefan Kaufmann, the Japanese manufacturing giant’s second non-Japanese CEO, took over in April last year.
Stefan Kaufmann was the second non-Japanese CEO of the Japanese camera maker
But yesterday, a spokesperson for the camera maker said in a statement that after receiving an allegation that Kaufmann had purchased illegal drugs, it launched an investigation.
The spokesperson said: “Based on the results of the investigation, the board of directors unanimously determined that (he) likely engaged in behavior that was inconsistent with our global code of conduct, our core values and our corporate culture.”
The board asked for his resignation and Kaufmann, 56, agreed, the spokesman said.
With Olympus shares falling more than 5% in Tokyo, the company apologized “for the concern this has caused our shareholders, customers and all stakeholders.”
Details of the drugs Kaufmann allegedly purchased are still unclear.
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