Olympus 2008 Annual Report Download - page 25

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CORPORATE GOVERNANCE
Corporate Structure with Auditor System
> Olympus adopted a corporate structure with an auditor
system based on Japan’s Corporation Law. Our corporate
governance system consists of a Board of Directors, which
audits and supervises the performance of directors; and
auditors and a Board of Auditors, which are independent
from the Board of Directors and audit the performance
of directors. In recent years, listed Japanese companies
have been adopting one of two methods for corporate
governance: a corporate structure with an auditor or a
committee system. Olympus believes that our auditor
system-based corporate governance system is ideally
suited to the task of ensuring efficient and fair manage-
ment, given the current business environment. Olympus
adheres to the following structure in its efforts to maintain
and improve corporate governance.
Corporate Governance Structure Chart
General Meeting of Shareholders
Appointment/
dismissal
Appointment/dismissal Appointment/dismissal
Audit
Cooperation
Supervision and appointment/
dismissal of President
Audit
Audit
Board of Auditors
Business Divisions, Corporate Center, Corporate R&D Center,
Corporate Social Responsibility Division, Subsidiaries and Affiliates
Board of Directors
President
DirectorsAuditors
Internal Audit Department
Executive Management
Committee
Global Strategy
Committee
Risk Management
Committee
Accounting
Auditor
Audit
Advice
The Office
of Auditors
Special
Committee
> The Olympus Group, which is an active member of
society and shares its sense of values, proposes new
value through its business endeavors, thereby seeking
to contribute to people’s health and happiness. We call
this concept “Social IN,” describing the basic philosophy
underlying all our activities. Based upon this philosophy,
Olympus believes that one of its key missions is to build
and operate an optimal and appropriate corporate gover-
nance structure from a global perspective.
MANAGEMENT
STRUCTURE
OLYMPUS 2008 23