Stefan Kaufmann, chief executive of Olympus Corporation, has stepped down amid allegations that he purchased illegal drugs.
The company said in a statement on Monday that investigative authorities had launched a probe after reporting that it had received “an allegation that Mr. Stefan Kaufmann had purchased illegal drugs”.
“Based on the results of the investigation, the Board of Directors unanimously determined that Mr Stefan Kaufmann likely engaged in behaviours that were inconsistent with our Global Code of Conduct, Our Core Values, and our corporate culture,” it added.
Shares in Olympus slumped about 7 per cent in morning trading in Tokyo.
Kaufmann did not immediately respond to a request for comment.
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