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View Full Version : Woodford would not sell Olympus' camera division


Four Thirds User
14th December 2011, 05:40 PM
Four Thirds User (Fourthirds-user.com (http://fourthirds-user.com)) is a sibling site to the e-group.

It's official, a new hole in Olympus' finances is a billion dollars wide. Can whistleblower Michael Woodford achievethe task of returning to the helm and turning the ship around without losing the camera business. That's his solemn aim, but the odds are against him.

More... (http://fourthirds-user.com/2011/12/woodford_would_not_sell_olympus_camera_division.ph p)

jdal
15th December 2011, 10:06 PM
I'm sure it's an interesting read, but that link takes me to a page with a large Flash window plonked over the top left text, and it won't go away. This is on a netbook with IE8.

update -I can get to the article from Fourthirds-user.com (http://fourthirds-user.com/) hompage

gno
16th December 2011, 07:24 AM
John (jdal)
Article in its entirety from Fourthirds User
Regards
Gavin

14th December 2011
Woodford would not sell Olympus' camera division
by Ian Burley
http://www.fourthirds-user.com/openads/www/delivery/lg.php?bannerid=46&campaignid=13&zoneid=11&channel_ids=,&loc=http%3A%2F%2Ffourthirds-user.com%2F2011%2F12%2Fwoodford_would_not_sell_oly mpus_camera_division.php&referer=http%3A%2F%2Fe-group.uk.net%2Fforum%2Fshowthread.php%3Ft%3D18107&cb=f57dc339b6
Olympus avoids stock market de-listing for now

It's been a huge day for Olympus Corp. The disgraced company managed to meet a stock deadline to file revised accounts for the last five years and so, for the moment, avoid being de-listed. But the company is not out of the woods yet. Over a billion dollars of additional losses have appeared in the revised accounts and the company's assets to debt ratio is a worrying 1:14. The company desperately needs to re-capitalise and could be forced to sell assets or merge with competitors, or even endure a hostile take-over with prospect of being asset-stripped. None of these options would be good for the struggling division.
Ousted president and CEO, Michael Woodford, is seeking to muster a to return to the helm of the company with the support of key investors. Woodford has publicly declared that his aim is to recapitalise the business without breaking it up and he made it crystal clear that if he was successful in his bid he would not dispose of the camera business.
Woodford has the backing of some outspoken Olympus investors, but most of them are outside of Japan. The enthusiasm for Woodford's return seems to be non-existent in Japan, even among ordinary Olympus employees there. The existing board will shortly resign en-masse, but they are also working to engineer their replacements and Woodford is not part of the their plans.
In the end it will be down to Olympus' investors to decide on who will replace the current board. The battle is far from over yet.

amalric
17th December 2011, 06:33 AM
Thank you it is a very interesting update.

It would be really a pity if the camera division were disbanded at the very moment it has rising sales. OTH this is also the moment when it needs the most R&D investment to counter competition. I can see the need to re-capitalize the business, provided it doesn't lead to a clash between investors new and old.

Internaut
17th December 2011, 07:46 PM
Thank you it is a very interesting update.

It would be really a pity if the camera division were disbanded at the very moment it has rising sales. OTH this is also the moment when it needs the most R&D investment to counter competition. I can see the need to re-capitalize the business, provided it doesn't lead to a clash between investors new and old.

A warm welcome to the British E System forum.

amalric
17th December 2011, 08:51 PM
Thank you, but it's only common sense, that the camera division doesn't go into oblivion like Minolta did under Sony.

Chevvyf1
17th December 2011, 09:10 PM
Woodford may not, but its up to the Institional Shareholders and what they see as the most profitable way forward *yes ... however, someone has been sponsoring Woodford Expenditure (interviewing all around the world for a new board) so its probably a given Woodford and HIS board will be appointed by the majority shareholders during an Extraordinary General Meeting :D