05 March 2012
Former Olympus chief launches unfair dismissal claim
The chief executive of Olympus has launched an unfair dismissal claim against the Japanese firm.
Michael Woodford had been with the company for over 30 years but was fired after he blew the whistle on dodgy accounting procedures.
Eventually it was discovered that losses of over £1 billion had been concealed by the camera giant over a period of 20 years.
Speaking at the hearing, which is being held at the East London Employment Tribunal, Mr Woodford stated: "I found wrongdoing, I raised that wrongdoing and for doing that I was dismissed ... in a way in which I'll never forget."
He added he hopes to hold the organisation "to account" for its actions in firing him.
Mr Woodford had a contract with the firm running until 2015 and he could be set for a settlement that will run into millions of pounds if his claim for unfair dismissal is successful.
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Posted by Chris Stevenson