Michael wwodford r 2067075b

Olympus Has Fallen

By Olympushasfallen
  • Woodford Promoted

    Woodford Promoted

    Michael Woodford becomes the first non-Japanese CEO of Olympus
  • Questionable Fees

    Questionable Fees

    Two articles published in "Facta" magazine that revealed a questionable $687 million advisory fee paid by Olympus when purchasing three compaies.

  • Questions Raised

    New CEO Michael Woodford begins to question these fees and is ignored by the Chairman, Tsuyoshi Kikukawa, and Group Prseident, Hisashi Mori, on these questions
  • Woodford starts his own investigation

    Woodford starts his own investigation

    PricewaterhouseCoopers, an outside auditor, is called in to investigate these "questionable" fees by Michael Woodford

  • "Dealing with the consequences"

    After receiving the report from the outside Auditors hired by Woodford he tries to convince Kikukawa and Mori to deal with their consequences.
  • Woodford fired

    Woodford fired

    At a board meeting Michael Woodford was fired because of his suspicions and is voted out 15-0 by the board.
  • Woodford Acts Out

    Woodford Acts Out

    Upon being fired Woodford immediately shares the information from his own investigation with the FBI, Japanese and British Press, as well as Britain's Serious Fraud office.

  • The Truth Comes Out

    After worldwide press coverage of the scandal the company, Olympus, finally admits to covering up $1.7 billion in losses.