A News Escort For Tokyo Escorts.

By Yoko Kubota and Linda Sieg TOKYO | Tue Jan 10, 2012 7:28pm IST TOKYO (Reuters) – Japan’s disgraced Olympus Corp (7733.T) is suing its president and 18 other executives, past and present, for up to $47 million in compensation, as it struggles to recover from one of the nation’s worst accounting scandals. The maker of cameras and medical equipment said on Tuesday all board members subject to the lawsuit would quit in March or April, leaving it in the extraordinary position for now of continuing with its most senior executive, Shuichi Takayama, and five other directors it is suing for mismanagement.One analyst likened the current board to condemned men, resigned to their fate, and said they would have difficulty over the next few months making any strategic decisions, leaving Olympus more vulnerable to an eventual takeover.”Essentially, everyone feels they are on death row. It does seem extremely strange to have the death row cell inside the company,” said Nicholas Smith, head of Japanese equity stra …

See the full article from “Reuters India”

~ by nikki on January 10, 2012.