Olympus has engaged a global executive recruitment firm to assist a board search committee in evaluating CEO candidates.
The Tokyo-based medtech company said in a Dec. 20 news release: “Olympus Corporation is committed to completing the CEO succession process as swiftly and efficiently as possible to ensure continued leadership and growth.”
Board chair and former CEO Yasuo Takeuchi has been serving as acting CEO since October, when then-CEO Stefan Kaufmann resigned over accusations that he bought illegal drugs.
On Dec. 23, Kaufmann pleaded guilty in a court in Tokyo to the illegal drug purchasing charge, according to media reports. The indictment had listed cocaine and MDMA as the drugs that he was believed to have purchased.
Kaufmann said he had used the drugs to try to hide fatigue from his 16- to 18-hour work days, according to The Japan Times. He resigned after only about a year and a half in in the corner office, which he took over from Takeuchi in April 2023. Over the years Kaufmann had risen through executive ranks at the company.
Our most recent Medtech Big 100 report lists Olympus as the 21st largest medical device company in the world, with more than $6.6 billion in annual revenue and nearly 29,000 employees.
