Latest in Accounting

Image credit:

Olympus to settle with ex-chief exec over misconduct, may involve mountains of cash

Share
Tweet
Share
Save

Sponsored Links

As Olympus' recent accounting scandal finally begins to wind down, the guy who blew the whistle on the financial wrongdoings might actually be the one to make out like a bandit. Michael Woodford, former chief executive of the company, has settled out of court with his former employer over his unfair dismissal that occurred just two weeks after his appointment. The settlement still has to be approved by the mostly new board (read: the other guys got arrested), but the Financial Times speculates that it'll result in £10 million ($15.5 million) being awarded to Woodford, or what's left on his contract. Company stock prices are around half of what they stood at before the scandal. Suddenly all those Facebook shares you jumped on don't look so bad.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share
Save

Popular on Engadget

Engadget's Guide to Privacy

Engadget's Guide to Privacy

View
YouTube CEO apologizes for channel verification mess

YouTube CEO apologizes for channel verification mess

View
Apple’s new iPhones can better manage your battery as it ages

Apple’s new iPhones can better manage your battery as it ages

View
Porsche welcomes challenge from Tesla as it adapts to the EV world

Porsche welcomes challenge from Tesla as it adapts to the EV world

View
Fujifilm's X-Pro3 mimics film cameras with a fold-out display

Fujifilm's X-Pro3 mimics film cameras with a fold-out display

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr