CEO Stefan Kaufmann resigned after an internal investigation revealed he likely engaged in behavior inconsistent with Olympus's global code of conduct and corporate culture.
The board of directors unanimously determined that Kaufmann's actions contradicted the core values of Olympus, prompting his resignation at their request.
Olympus chairman Yasuo Takeuchi will act as interim CEO while the nominating committee finds a permanent replacement following Kaufmann's exit.
Olympus expressed deep apologies to shareholders and stakeholders for the concerns raised by the situation, while the company's stock fell over 7 percent after the announcement.
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