Wednesday, January 11, 2012
It is a mark of Japanese culture that a company can sue its executives, yet let them continue to run it. At least that is what Olympus is doing. One would think after all the bad PR that Olympus has suffered in recent months that the board of directors would want to make a clean sweep. But, no. Japanese must remain in charge, even if they were part of a long-term conspiracy to cover up losses. Predictably, the company has reaped more bad PR for this action, but it defends its position by saying that business continuity is more important. Maybe so in Japan, but Olympus is an international company and its decisions are playing out on a global stage. One wonders how the company can continue with such decision-making.