Scandal-Hit Olympus Foreign Shareholders Asking To Chose Independent Chairman

Posted on Mar 21 2012 - 8:45am by Editorial Staff

The scandal-hit Olympus which last month nominated a former banker from Olympus main lender Sumitomo Mitsui Banking Corp as a chairman, a group of shareholders, including that of Southeastern Asset Management and Indus Capital asking to chose someone more independent for the position, reports Reuters.

Shareholders told Reuters in an emailed statement: “The proposed Chairman’s and certain other proposed board members’ close connection with Olympus’ main banks gives rise to a potential conflict of interest.”

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