{"id":13544,"date":"2012-03-22T14:28:00","date_gmt":"2012-03-22T14:28:00","guid":{"rendered":"http:\/\/amateurphotographer.co.uk\/uncategorized\/olympus-whistleblower-wins-fts-business-title-13544"},"modified":"2014-09-02T14:38:29","modified_gmt":"2014-09-02T13:38:29","slug":"olympus-whistleblower-wins-fts-business-title","status":"publish","type":"post","link":"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/olympus-whistleblower-wins-fts-business-title\/","title":{"rendered":"Olympus whistleblower wins FT\u2019s business title"},"content":{"rendered":"

The Financial Times<\/em> (FT) has named former Olympus CEO Michael Woodford ?Person of the year? at its annual Boldness in Business Awards.<\/strong><\/p>\n

Woodford lost his job<\/a> as the camera maker?s newly appointed boss last October after confronting boardroom colleagues with his suspicions over high fees Olympus had paid for acquisitions.<\/p>\n

His actions led the company to admit to a \u00a31.1 billion accounting cover-up and the arrest of top officials including ex-chairman Tsuyoshi Kikukawa and former executive vice-president Hisashi Mori.<\/p>\n

FT editor Lionel Barber, one of the award’s judges, said: ?If there was one person who captured the spirit of boldness in business in 2011, it was Michael Woodford.<\/p>\n

?His selection was a matter of serious discussion among the judges. There were concerns that it might be misconstrued as an incitement to whistleblowers and a broader insurrection against business.<\/p>\n

?But these concerns were allayed once the logic of the choice became clear.<\/p>\n

?Woodford took a considerable risk in exposing wrongdoing. As chief executive, he was arguably acting against his self-interest, since his job was obviously in jeopardy.<\/p>\n

?Yet he did the right thing. He campaigned for proper accounting and persuaded the Japanese authorities to act.<\/p>\n

?He was a study of boldness in action. By choosing him, the judges followed suit.?<\/p>\n

Earlier this month Japanese authorities charged six men with breaching Japan?s financial laws, as inquiries into the scandal continue in the UK and the US.<\/p>\n

Woodford is currently suing Olympus for unfair dismissal, an issue the firm?s Tokyo HQ declined to comment on in view of the ongoing legal action, when approached by Amateur Photographer<\/em> (AP).<\/p>\n

In an interview<\/a> with AP last month, Woodford spoke about his plans to attend an extraordinary general meeting for Olympus shareholders in Tokyo on 20 April.<\/p>\n

He also talked about his soon-to-be-launched book about the Olympus affair, and its implications for global corporate governance.<\/p>\n

[Picture credit: Chris Cheesman]<\/p>\n","protected":false},"excerpt":{"rendered":"

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