Book for an event michael woodford grew up in liverpool and joined olympus as a salesman, rising through the ranks to run its uk, european and global operations. Olympus eventually admitted it used improper accounting to conceal investment losses and restated five years of. Nov 01, 2012 michael woodford s inside story on his whistleblowing antics at olympus is a sensational read. By 2011, when he became president of olympus, he was a 30plus year veteran of the company who had joined as a salesman in his teens and was now head of the groups european business. Comision europea descubra os melhores ebooks, audiolivros. The olympus scandal bowing out and barging in schumpeter. Woodford at regular intervals expresses his love for his 40. The accounting irregularities uncovered by michael woodford at olympus was. The economist woodford has written a brilliantly gripping book, with a great hero at its heart.
Lorsch, suraj srinivasan, and kathleen durante harvard business school supplement 475. Since being ousted from olympus in october, its former boss, michael woodford, had looked like he was losing the battledespite the fact that he successfully had. Chapter 7 thinking critically michele walker business. It nearly killed me exolympus ceo woodford looks back. For choosing truth over self in exposing the olympus accounting scandal, michael woodford has been selected to receive the. But just weeks into the job in tokyo he came across allegations of enormous fraud. The first whistleblower using facts is former olympus ceo michael woodford, who uncovered a huge accounting fraud at the company.
The main problem of this book was that it should not include mr. View the profiles of professionals named woodford on linkedin. Edicin no venal licencia creative commons cc by ncnd 3. Olympuss corporate culture attacked by staff and probed by. Woodford, on monday delivered a dossier of what he called condemning evidence on olympus to britains serious fraud office in london. The olympus scandal big trouble in tokyo schumpeter. The bestselling business book of 2012, now in paperback. Former ceo michael woodford feared for his life and his family when he.
Michael woodford microsite celebrity speakers michael. Reuters alan tovey, industry editor 11 november 2017 7. The companys expresident and ceo dared to ask questions about what looked like fraudulent accountingand paid dearly for it. His courageous actions in denouncing the fraud catapulted him to corporate and popular stardom and have given rise to a book, exposure. After exposing the companys fraud, woodford wrote about it in the book. Michele walker business ethics chapter 7 thinking critically 111416 thinking critically 7. It detailed how an english ceo uncovered a huge scandal at one of japans most prestigious firms, olympus. Michael woodford mbe is a british businessman who was formerly president and ceo of olympus corporation, making him the first nonjapanese person to be appointed as the companys ceo. Michael woodford managing partner michael woodford.
Dec 18, 2012 the case of michael woodford at olympus, however, is an exception. This case outlines michael woodford s awards and honors, after having been fired from olympus in october 2011. All topics all writers digital newspaper archive facebook youtube instagram linkedin twitter newsletters. Olympus whistleblower lands tv deal as japan faces wave of. Dec 21, 2012 michael woodford, english born, started as a salesman at the iconic japanese optical equipment maker olympus, and worked his way up the company ranks through perseverance and good business to last. The olympus scandal the end of the beginning schumpeter. 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. Olympus corporate executives were hiding huge investment losses through complex takeover deals and secret offbalancesheet vehicles. The olympus scandal paying a price for doing whats. Michael woodford mbe was president and ceo at olympus, when just weeks. It was rare enough that a tokyobased company had elevated michael. Michael woodford, the firms former boss, resigned from olympus s board so he can get his hands dirty in a likely proxy fight between japanese. The board of the japanese cameramaker lied about the mystery for weeks. Woodford attended the king david high school, liverpool according to the olympus website, woodford, a graduate of millbank college of commerce, joined keymed, a uk medicalequipment unit of olympus, in 1981 in 2008 he became executive managing director of.
Woodford was born in staffordshire, but moved to liverpool with his mother when he was seven after his parents divorced. He later became head of its uk, middle east and africa and european businesses. An olympus spokesman says that the company is aware that mr. Time, in naming him a 2011 person who mattered michael woodford is. Michael woodford grew up in liverpool and joined olympus in 1981 as a medical equipment salesman. From president to whistleblower at olympus michael woodford on. Michael woodford could have spent years turning a blind eye to the shady dealings of corporate executives at olympus. Nov 30, 2012 instead, woodford found a coverup of multibilliondollar company fraud with possible links to japans feared mafia, the yakuza. Corporate governance in japan back to the drawing board. Michael woodford challenged olympus corporations board on questionable.
How i went from ceo to whistleblower paperback michael woodford 9780670922239 by michael woodford, woodford michael and a great selection of similar new, used and collectible books available now at great prices. Michael woodford grew up in liverpool and joined olympus as a salesman, rising through the ranks to run its uk, european and global operations. Jul 04, 20 the bestselling business book of 2012, now in paperback. Michael woodford accuses olympus of wrongdoing the new york. Mar 28, 2014 ex olympus ceo describes the hostile board showdown that left him in fear for his life michael woodford, exposure.
However, olympus and possibly the japanese business system will never be the same because michael woodford decided he couldnt turn away. Dec 02, 2012 the 2011 financial scandal at the olympus corporation, the big japanese maker of optical equipment, was a headshaking spectacle. Linkedin twitter instagram acfe insights the fraud examiner fraud talk. My podcast interview with michael woodford, former ceo. 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. The real cost of choosing truth over self fraud magazine. 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. Hed risen through the ranks of giant japanese firm olympus to become ceo.
How michael woodford exposed the dark heart of olympus. Article and interview with michael woodford, 2012 sentinel award recipient and. Exolympus ceo describes the hostile board showdown that. Nov 11, 2017 michael woodford was sacked by olympus after revealing a financial scandal at the heart of the business credit. Nov 10, 2011 olympus s shares fell 29% on november 8th, their daily limit. My journey from ceo to whistleblower by michael woodford hardcover book, 320 pages see other available editions description it was no comfort to know that i was making history, for the forced removal of a company president is almost unheard of in japan. Woodford s first book is coming out next month, but the company hasnt seen its content and therefore cannot comment on it. 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. Michael woodford battles with insurer over olympus legal. However, he was dismissed after just four months in the position when he uncovered explosive financial irregularities.
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. They are now 80% lower than before mr woodford was ousted. Ousted exceo woodford demands answers for dismissal at. Jun 19, 2012 michael woodford, the former president and ceo of olympus who was fired after he launched an investigation of the japanese company s suspicious overpayments for acquisitions, received an award monday from the association of certified fraud examiners. Drawn from michaels experience of being the first ceo in history to become a whistleblower of his own corporation, and the lessons of the olympus scandal, he. Michael, a 30 year veteran of olympus, found himself in the middle of treachery and intrigue shortly after being appointed president in april 2011 when he. Whistleblower michael woodford settles with olympus. Yet his every attempt at investigation was blocked. It was like a john grisham novel, flying off and meeting the fbi. You dont want to be there, but you have to do the right thing and testify. Olympus whistleblower tells all the bureau of investigative. Woodford takes a ride through alice in wonderland and survives michael woodford is a more relaxed man these days. Michael woodford, former olympus ceo and whistleblower. But olympus appears to have prolonged its agony at least in the matter of former ceo michael woodford.
Time, in naming him a 2011 person who mattered michael woodford is a man who did not stand by and do nothing. He is 51 years of age, married to nuncy, a spanish national, and they have two children, edward 18 and isabel 16. Exposure, the story of a british whistleblower in japan. I thought i was going to run a healthcare and consumer electronics company, but found i had walked into a john. 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.
Michael woodford grew up in liverpool, and worked for olympus for 30 years, becoming ceo on october 1st 2011. View michael woodford s profile on linkedin, the worlds largest professional community. The tokyo stock exchange has placed the firm on a watchlist for delisting. Exposure by michael woodford penguin books new zealand. In april 2011 he was appointed president and coo of the olympus corporationthe first western salaryman to rise through the ranks to the top of a japanese giant. It nearly killed me exolympus ceo woodford looks back on. 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. Feb 16, 2012 woodford, 51, recounted how he had just returned from hong kong, having fled tokyo after a board meeting in which olympus chairman tsuyoshi kikukawa had fired him.
Former olympus chief executive tells of risks he ran in exposing fraud. Michael woodford had been fighting a legal case brought by keymed, a uk subsidiary of olympus, after the company alleged that mr woodford. Nov 23, 2012 michael woodford got wind of the allegations of fraud worth over. The accounting irregularities uncovered by michael woodford at olympus was related to transactions that were done to cover past investment losses. 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. At olympus and goldman sachs, two very different whistleblowers. The way i read it, the first part of the book deals with his escape from japan, possibly because his life was in danger. Michael woodford has 58 books on goodreads with 2835 ratings. Michael woodford accuses olympus of wrongdoing the new. Praise a gripping chronicle by a corporate whistleblower who achieved a stunning victory. In november 2012 woodford published a book about the olympus scandal, and a film was also underway. See the complete profile on linkedin and discover michael s connections and jobs at similar companies.
However, he was dismissed after just four months in the position. 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. Olympus whistleblower woodford receives acfe award. It discusses the repercussions following an investigation into the fraud and the report that was released thereafter. Exolympus ceo describes the hostile board showdown that left. Its a long way from a private jet, michael woodford shouts out as he charges. Michael woodford mbe speaker profile celebrity speakers. Former olympus ceo, michael woodford, speaks on experience. Acfe honors michael woodford for exposing olympus accounting. Michael woodfords exposure details firsthand how the maverick executive blew. Dec 21, 2012 michael woodford, english born, started as a salesman at the iconic japanese optical equipment maker olympus, and worked his way up the company ranks through perseverance and good business to last year become the first nonjapanese president and ceo of the conglomerate.
Exolympus boss michael woodford wins pension lawsuit. Dec 01, 2011 the olympus scandal bowing out and barging in. Britishborn michael woodford was an olympus veteran of 30 years, and previously executive managing director of olympus medical systems europa. Michael woodfords showdown in exposure business insider. May 29, 2012 whistleblower michael woodford settles with olympus. What accounting irregularities did michael woodford uncover at olympus. 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. Former olympus ceo, michael woodford, speaks on experience at.
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