Reuters: Ousted Olympus CEO ‘Likely’ Wins Settlement

Reuters reported that Michael Woodford, ousted as head of Japanese camera and medical equipment maker Olympus after blowing the whistle on one of Japan’s biggest corporate frauds, won a likely multi-million dollar settlement of his claim for unfair dismissal.

Reuters said that after a night of negotiations, Woodford’s lawyer Tom Linden told a London employment tribunal judge that final agreement hinged on ratification by the Olympus board at a meeting on June 8.

“So hopefully today is a closure, a line has been drawn, the company can move on and I can,” Woodford told reporters outside the courtroom.

To read the Reuters story click here.

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