Olympus names activist investor to board to boost reforms

Scandal-plagued company takes rare step under a leadership reshuffle

20190111N Olympus logo

Facing pressure from American activist investor ValueAct, Olympus decided to invite one of its partners to the company's board as part of a governance reform push. © Photo by Toru Hatano

RINTARO SHIMOMURA, Nikkei staff writer

TOKYO -- Japan's Olympus is accelerating reform of its much-criticized governance with its first shake-up of top leadership in seven years, which includes the unusual move of welcoming a foreign activist investor to its board.

The camera and medical device maker will invite Robert Hale, a partner at leading shareholder ValueAct Capital Management to join its board under the changes announced Friday.

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