Olympus 2012 Annual Report Download - page 14

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in a clear recognition of issues and a sense of responsibility, I believe that the management supervision function, the
most important proposition for the Board of Directors, will be fully executed.
By attaining synergy between the internal code of ethics and measures to strengthen the compliance system, we
will lead the development of Olympus into a company that can promise to restore stakeholder trust and improve
corporate value as quickly as possible. I encourage our stakeholders to have high expectations for the future.
The Board of Directors manages and supervises the execution of business. Please
describe specific management and supervision measures.
In the new corporate governance system, the Board of Directors has the right to vote on important matters raised at the
Executive Management Committee. That is to say, since a process has been established by which decisions on
management strategy and other important management matters are made by approval of the Board of Directors, a
mechanism is in place to ensure management soundness.
In addition, the Board of Directors has requested reporting on matters decided by the Executive Management
Committee and president. Since failure to report and lack of communication are causes of governance malfunction, the
Board of Directors will engage in ongoing improvements of the governance system, focusing on functional enhancement
of information communication and monitoring.
What is your assessment of the functioning of the current Board of Directors three
months after its formation?
Although board meetings at large corporations tend to be conducted as a formality, active discussion takes place at
Olympus Board of Directors meetings. Board members express opinions openly, in part because they are keenly aware
of the problems facing Olympus, and I think that Olympus
has one of the most spirited and active boards of any
Japanese company.
Having a highly reliable corporate governance
system in place, the Board of Directors must shift to the next
task: offering constructive commentary on the direction
Olympus should take in the future. Since the Board has many
members who bring a wealth of experience and keen insight
as business managers, I believe that high expectations of
Olympus are warranted.
Highly rational and transparent management will support the sound growth of Olympus.
Q4
Q5
Interview with the Chairman
OLYMPUS 󱚈 Annual Report 2012
12