Olympus whistleblower to raise unfair dismissal case January 2012
Posted date: 6 January 2012
Michael Woodford is to put forward a case of unfair dismissal after he was told that he could not return to work following his allegations of an accounting scandal at Olympus.
The former Chief Executive admitted defeat after his battle to get his job back and reshuffle the board failed. At the time of dismissal he was told that a clash of management styles was the reason behind the decision.
The saga began in October when Woodford revealed a £1.1 billion cover-up of losses at the Japanese electronics firm going back to the 1990s.
In a statement he said: “Despite my having done the right thing, none of the major Japanese institutional shareholders have offered one word of support to me and conversely have in effect allowed the tainted and contaminated board to continue in office.”
Woodford, who has had a career at the company spanning 30 years, added that the emotional strain on his family had also contributed to his decision to “withdraw from any further action to form an alternative slate of directors”.
Woodford has announced that he has instructed his lawyers in the UK to launch an unfair dismissal against the firm to seek damages.
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- January 2012
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