Japanese medtech giant Olympus has parted company with its German chief executive over claims he bought illegal drugs.
Stefan Kaufmann was asked to resign after an internal investigation by the board, according to a statement from the company.
Olympus said: “Upon receiving an allegation that Mr Stefan Kaufmann had purchased illegal drugs, Olympus, in consultation with outside legal counsel, immediately investigated the facts, made a report to the investigative authorities and cooperated fully with their investigation.”
After receiving the report, the statement said the board unanimously agreed that Kaufman had acted in ways that “were inconsistent with our global code of conduct”.
Kaufmann offered to resign, an offer which was accepted by the board, Olympus added.
No other details were forthcoming and none about how the alleged incident saw the light of day.
Kaufmann was Olympus’s second non-Japanese boss and was CEO only since April 2023 having joined its European operation in 2003.
In 2011, Michael Woodford, the first foreigner to head the company, left within weeks of taking over, a decision he said followed his move to investigate accounts from previous years.
Yasuo Takeuchi, Olympus' chairman, is to take over as temporary CEO while it searches for a successor to Kaufmann.