The German CEO of major Japanese optical equipment manufacturer Olympus has stepped down after allegedly buying illegal drugs, the company said on Monday.
Stefan Kaufmann became chief executive officer in April 2023, having served as a board member since 2019. He first joined the European arm of Olympus in 2003.
Olympus shares plunged six percent in morning trade as the company apologised in a statement “for the concern this has caused to our shareholders, customers and all stakeholders”.
“Upon receiving an allegation that Mr Stefan Kaufmann had purchased illegal drugs, Olympus, in consultation with outside legal counsel, immediately investigated the facts, made a report to the investigative authorities, and cooperated fully with their investigation,” it said.
The company’s board of directors then “unanimously determined” that Kaufmann “likely engaged in behaviours that were inconsistent with our global code of conduct”.
Kaufmann, who is reportedly the company’s second non-Japanese president, was asked …