Olympus sticks with expansion despite CEO resigning over drugs

Management stands by its judgement to promote Stefan Kaufmann

20241108 Olympus and CEO

Olympus CEO Stefan Kaufmann resigned suddenly last week over alleged drug use (Nikkei montage/Source photos by Kyodo and Kohtaro Igarashi).

MITSURU OBE, Nikkei Asia chief business news correspondent

TOKYO -- Japan's Olympus said on Friday that it will stick to its business expansion plan following the shock resignation of its CEO, Stefan Kaufmann, last week over his alleged use of illegal drugs.

"The strategic direction of our company will not change because of the departure of the former CEO," said Yasuo Takeuchi, chairman of Olympus, who oversaw the leadership change in April 2023. "The resignation doesn't change the challenges we face."

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