Olympus has partnered with an international executive search group to guide a board-appointed committee in its search for CEO candidates. The Tokyo-based medical technology firm announced on December 20 that “Olympus Corporation is dedicated to efficiently finalizing the CEO succession process to maintain leadership and foster growth.”
Yasuo Takeuchi, who previously led as CEO, has assumed the role of acting CEO since October following the resignation of then-CEO Stefan Kaufmann amid allegations of illegal drug procurement. On December 23, Kaufmann reportedly admitted guilt in a Tokyo court regarding the purchase of illicit drugs, according to media outlets. The indictment particularly noted the procurement of cocaine and MDMA.
Kaufmann explained his drug use as an attempt to combat exhaustion from prolonged work hours, ranging from 16 to 18 hours a day, as reported by The Japan Times. His resignation came roughly a year and a half after succeeding from Takeuchi in April 2023. Kaufmann had steadily climbed the ranks within the company over the years.
The latest Medtech Big 100 ranking positions Olympus as the 21st largest medical device company globally, generating more than $6.6 billion annually and employing close to 29,000 individuals.