Former CEO Woodford quits Olympus board to call for new management
Olympus' former CEO Michael Woodford has resigned his position as director of the company and called for a shareholder meeting to dismiss the rest of the board. The company's share price had started to recover some of the 88% value it had lost in the weeks since Woodford was removed as CEO for highlighting unusual payments by the company (he remained a director). Since then the company has admitted using these payments to cover up losses on earlier investments. An independent committee established by the company has reported it has found no evidence of the rumored involvement of organized crime syndicates in the deals. However, three board members, including the President and Vice-President have resigned over the issue.
In a board meeting last week attended by Woodford, the company agreed to start reviews of its corporate governance (to prevent such actions being taken again and to provide reassurance to investors) and on restructuring the business. Investment analysts have speculated that this second review could result in parts of the business being sold off to protect its core value. The company is currently dominated by its profitable 'Medical Systems' endoscopy business that makes up 42% of the company's value. The loss-making 'Imaging Systems' camera division makes up around 16% of the company, making it the third-largest segment.
Risk of delisting
The company has reiterated that it will be able to file its Q2 earnings reports by the deadline of December 14th - failure to do so would result in its delisting from the Japanese Stock Exchange (and thus the suspension of its shares, limiting its means of raising investment). Several overseas shareholders have been calling for Woodford reinstatement.
Meanwhile the initial independent committee's report is due to be published on December 2nd.
Nov 15, 2014
Nov 22, 2014
Nov 13, 2014
Nov 13, 2014
Even after eighteen months of reviewing the latest, greatest, shiniest and must-buy-me-est new gear, DPReview staffer Carey Rose has continued to use older DSLR cameras for his freelance work. But now, that might be changing. Read more
Sony is the world's leading mirrorless camera brand but remains third for ILCs overall, it's said in a presentation to investors. A focus on high value cameras and lenses should boost operating income, it says. Read more
It's nicknamed the 'Cycloptic Mustard Monster,' and is a 3D printed medium format camera. Read more
The new NanGuang LED lights are battery powered and come with accessories including filters and diffusers.
Have you been telling yourself, "Hey, I really need one of those 8K displays?" A video about Dell's new 8K monitor shows you what to expect. Is it really that much better?
Tamara Lackey, a Nikon ambassador USA and pro shooter, discusses embracing self-consciousness as a means of connecting with subjects.
There's a new Spiderman movie coming out and the poster been generating a lot of online chatter. Mostly about how it looks like the creation of a fevered teenager that just discovered Photoshop.
An honest defense of the system's merits, with photos as proof.
Copyright disputes are no fun at all. 'Binded' is a new startup that aims to simplify the process of registering - and enforcing - copyright for photographers. Read more
Not everyone wants to pay a premium for a long zoom camera. Thankfully, there are many reasonably priced cameras available, though they won't offer the same image quality as enthusiast models. In this updated roundup we look at big zoom cameras with more consumer-friendly price tags. Read more
Think Tank Photo has updated two of its popular bag lines with improvements to functionality. Read more
We’ve all seen Bob Jackson’s Pulitzer Prize winning photo, but there's another.
The sample footage looks good.
It will automatically pick the best camera settings depending on shooting conditions. It even promises enhanced functionality for your camera, like exposure and focus stacking. It already supports many cameras from Canon, Fuji, Nikon and Sony. Read more
As if $13,950 wasn’t enough to pay for a special edition lens, the Leica Store in San Francisco is offering a prototype of said lens for $24,995. Read more
Make those old photos disappear without deleting them forever.
Firmware updates enable 10 fps shooting with adapted A-mount lenses, and faster startup times and better compatibility for 20 fps shooting when using native lenses on the a9.
Fujifilm has released firmware updates for its camera models X-T2, X-Pro2, GFX 50s, X-T20, X100F and X-T1 and updates to three of its software products.
A 22 year-old Romanian photographer uses his DJI Phantom 4 drone to capture unique perspectives of the city where he now lives.
What's it like to ride the waves with champion surfer Kelly Slater? This VR video from Teton Gravity Research gives you a taste.
When Nikon released the full-frame D3 in 2007, it changed the professional photography industry. In this week's Throwback Thursday, Barney remembers a legend. Read more
The new stuff should have better red hues, improved sensitivity and finer grain - but don't worry - will still shift blues to green, greens to purple and yellows to pink.
Ricoh has introduced a new rugged compact camera with a 16MP CMOS sensor, 28-140mm lens, 2.7" LCD and built-in LED macro lights. Read more
This compact drone can shoot HD video using a 2-axis stabilized 12MP camera. Read more
The new Prynt Pocket can print a photo directly from their iPhone simply by inserting the phone into the printer, then snapping a photo. Each print will cost about 50 cents. Read more
Updates for Adobe Camera Raw and Lightroom CC bring support for the Sony A9 and Panasonic ZS70/TZ90, along with bug fixes.
The Triggertrap remote camera control system is no longer sold due to the company folding, but now users will be able to build their own. Read more
The Magic Format Converter comes with internal optics that expand the image circle of full-frame DSLR lenses for use on the Fuji medium format camera. Read more
The usually Apple-exclusive MacPhun software developer has announced that it will introduce PC versions of two of its most popular applications. Both Aurora HDR and Luminar should be available for the Windows operating system by the autumn of this year. Read more
Sony's newest G Master telephoto zoom, announced alongside the a9, is the first of the company's FE lenses to reach 400mm natively. We had one in California and photographed horses, portraits, and landscapes - check out how it did. Read more