Velocity Reviews - Computer Hardware Reviews

Velocity Reviews > Newsgroups > Computing > Digital Photography > Olympus shares plunge 22% after it suddenly fires CEO

Reply
Thread Tools

Olympus shares plunge 22% after it suddenly fires CEO

 
 
David J Taylor
Guest
Posts: n/a
 
      10-17-2011
"Shares of Olympus Corporation have dropped for a second day after the
company fired Michael Woodford, its first non-Japanese chief executive
officer."

See:

http://www.bbc.co.uk/news/business-15330870

What impact for photographers, if any, I wonder?

David

 
Reply With Quote
 
 
 
 
Robert Coe
Guest
Posts: n/a
 
      10-18-2011
On Mon, 17 Oct 2011 08:30:39 +0100, "David J Taylor"
<(E-Mail Removed)> wrote:
: "Shares of Olympus Corporation have dropped for a second day after the
: company fired Michael Woodford, its first non-Japanese chief executive
: officer."
:
: See:
:
: http://www.bbc.co.uk/news/business-15330870
:
: What impact for photographers, if any, I wonder?

Olympus has been drifting badly on Woodford's watch, has it not? Oly
effectively abandons DSLRs to concentrate on mirrorless systems, only to be
thrashed by Sony. Nikon stands in the wings, ready to pick the bones. Canon
lurks out there, planning Who Knows Wnat. If you're a stockholder, good
riddance to Woodford!

So why does Oly's stock drop like a rock? Could it be that it'll cost them
upwards of 100,000,000,000,000,000 to buy out Woodford's contract? ;^)

Bob
 
Reply With Quote
 
 
 
 
RichA
Guest
Posts: n/a
 
      10-18-2011
On Oct 17, 10:18*pm, Robert Coe <(E-Mail Removed)> wrote:
> On Mon, 17 Oct 2011 08:30:39 +0100, "David J Taylor"<(E-Mail Removed)> wrote:
>
> : "Shares of Olympus Corporation have dropped for a second day after the
> : company fired Michael Woodford, its first non-Japanese chief executive
> : officer."
> :
> : See:
> :
> : *http://www.bbc.co.uk/news/business-15330870
> :
> : What impact for photographers, if any, I wonder?
>
> Olympus has been drifting badly on Woodford's watch, has it not? Oly
> effectively abandons DSLRs to concentrate on mirrorless systems, only to be
> thrashed by Sony. Nikon stands in the wings, ready to pick the bones. Canon
> lurks out there, planning Who Knows Wnat. If you're a stockholder, good
> riddance to Woodford!
>
> So why does Oly's stock drop like a rock? Could it be that it'll cost them
> upwards of 100,000,000,000,000,000 to buy out Woodford's contract? *;^)
>
> Bob


Hey, maybe like Kodak, you'll have vultures buying 65 million shares
on a Friday only to see them double the following Monday? A few made
out like bandits on that one, especially the ones who spread the
bankruptcy rumours.
 
Reply With Quote
 
Bruce
Guest
Posts: n/a
 
      10-18-2011
Robert Coe <(E-Mail Removed)> wrote:
>Olympus has been drifting badly on Woodford's watch, has it not? Oly
>effectively abandons DSLRs to concentrate on mirrorless systems, only to be
>thrashed by Sony. Nikon stands in the wings, ready to pick the bones. Canon
>lurks out there, planning Who Knows Wnat. If you're a stockholder, good
>riddance to Woodford!



That's more than a little harsh. Woodford was fired because it
appears he uncovered some dubious deals and then refused to sweep the
evidence under the carpet.

http://preview.tinyurl.com/68cczz5
or:
http://www.bloomberg.com/news/2011-1...osecutors.html

The problems at Olympus' camera division date back to the massive
investment in Four Thirds, which has never paid off, and changes in
the p+s market which mean that no-one makes any money there now.
Olympus was formerly heavily dependent on p+s sales.

Olympus carried on making Four Thirds DSLRs when hardly anyone was
buying them. There are huge unsold stocks of models going right back
to the E-1, and lenses too.

Panasonic rescued Olympus with some very good sensors but developed
Micro Four Thirds on its own. Since then, Olympus has been playing
catch-up. Had Panasonic not allowed Olympus to join it in Micro Four
Thirds, Olympus Camera would now be dead.

Olympus is completely dependent on Panasonic for the manufacture of
its sensors, and Panasonic seems to be limiting Olympus to 12 MP which
will obviously restrict sales. The company no longer delivers profits
from making cameras, which means that the much larger medical imaging
division now almost completely dominates the company.

All these problems pre-date Woodford's appointment as President of the
company on April 1, 2011. He had only been CEO for two weeks when he
was fired. That he has been unable to change much in his time at the
top is quite possibly not his fault. The company may come to regret
having dismissed him - the $3 billion loss in value of Olympus shares
may be just the start.

 
Reply With Quote
 
 
 
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
new RIM ceo sounds as useless as the UK Kodak CEO RichA Digital Photography 4 01-25-2012 12:12 PM
Ex-Olympus CEO proves Japanese running Olympus and shareholders wouldrather sweep the problems under the rug RichA Digital Photography 5 01-09-2012 02:45 AM
Olympus takes out "hit" on ex-CEO?? RichA Digital Photography 1 10-26-2011 11:10 PM
Simple composite control fires event fires first time but not second sellars.paul@googlemail.com ASP .Net Web Controls 3 05-13-2009 03:19 PM
Judge hits Vonage with injunction, shares plunge Roy VOIP 0 03-23-2007 09:40 PM



Advertisments