TOKYO (Reuters) – Olympus Corp said on Friday that Stefan Kaufmann would become the endoscope maker’s chief executive next year, becoming one of the few foreigners to run a major Japanese company.
Kaufmann, a German who has worked at Olympus for more than two decades, will take over from Yasuo Takeuchi, who helped guide the company’s transition to medical technology from its roots in cameras and other consumer electronics.
Olympus, which started off as a microscope producer over a century ago, said in August it agreed to sell its microscope unit to private equity firm Bain Capital for 427.6 billion yen ($3.1 billion), in what would be the Japanese company’s biggest divestment.
The leadership transition comes 11 years after the company was embroiled in an accounting scandal exposed by its first foreign chief executive Michael Woodford.
“We are the new Olympus now,” Kaufmann, who has worked primarily in human resources roles at the company, told reporters. “The company today has nothing in common with the company we have been 10, 15 years ago.”
The leadership change is due to take place in April 2023 following approval by the company’s board of directors.
(Reporting by Rocky Swift;Editing by Elaine Hardcastle)