I can’t deny having had to read through the article on a couple of websites and on more than one occasion. Surely, I was missing something?
Having worked for Olympus for 30 years and been President and COO for six months, Michael Woodford was promoted to CEO two weeks ago. Impressive progress for Mr Woodford and a real inclusivity statement from Olympus in promoting a gaijin to head their organisation.
Distinctly less impressive, then, was Olympus’ decision just two weeks later to dismiss Mr Woodford at CEO. Two weeks? Having worked there for thirty years and having been a senior director for the past six months? Their reason? Culture clash?
Apart from beggaring belief, it would be challenging to think of a move more effectively designed to destroy shareholder value – check, 17% share implosion – and their employer brand. Trust, loyalty, mmm. Reward, recognition, er. Diversity, inclusivity, no.
I wonder how attractive Olympus looks now to potential senior executives, talented and hard to attract technical specialists and entry level talent? I wonder what talented people currently working at Olympus are thinking about their career prospects? And I wonder too what damage has been done to their employer brand and the value proposition they are communicating to both external recruitment markets and internal employee audiences?
Getting to the heart of your employee mindset 