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Last year, Olympus CEO Michael Woodford discovered shady financial dealings within the company that reached all the way to to the top of the corporate ladder. When the board of directors found out that Woodford knew about millions of dollars in hidden investment losses, they promptly fired him, setting off alarm bells in the media and throughout global financial markets.
A Westerner at the top of a Japanese multinational company was almost unheard of at the time. But instead of ignoring the revelations of financial crimes at Olympus as many before him had done, Woodford spoke out. In November 2011, Woodford told The Takeaway, "When you start to get back answers...If I then just became passive and didn't do anything with those answers, then I would have become complicit. And I couldn't do that."
When all was said and done, it turned out that Olympus had covered up losses of more than $1.5 billion over a number of years.
Woodford's new memoir, "Exposure: Inside the Olympus Scandal: How I Went from CEO to Whistleblower," chronicles the ordeal.
For more, go to: http://www.thetakeaway.org/2012/dec/07/olympus-whistleblower-speaks-out/