THE former chief executive of Olympus yesterday vowed to “hold to account” the Japanese technology firm as he launched employment tribunal proceedings in London.
Michael Woodford, who was fired after questioning $1.7bn (£1.1bn) of payments, could receive tens of millions of pounds if he wins the case against his former employer. His contract to run the firm was due to last until June 2015.
Yesterday’s hearing, at East London Employment Tribunal, was closed to the media but beforehand Woodford said: “I found wrongdoing, I raised that wrongdoing and for doing that I was dismissed... in a way in which I’ll never forget... (I was) thrown out of my apartment and told to get the bus to the airport. We now know why ... I’m looking today to hold Olympus to account.”
Woodford is a former UK salesman for Olympus and spent much of his career at the firm in this country.
Shuici Takayama, president of Olympus, has said the company dismissed Woodford because of his unilateral decision-making and bypassing of consultation. A full hearing is expected to be held in the next few months unless the case is settled.