Woodford says would recapitalize Olympus within few months
TOKYO (Reuters) - Olympus Corp's ousted CEO Michael Woodford said on Wednesday he would recapitalize the camera and medical equipment maker within a few months if he returned and would favor investment by private equity or a rights issue to raise cash.
He also told Reuters in an interview that if he went back to Olympus he would try to avoid taking it into any strategic alliance with another company.
Woodford, who was fired by Olympus two months ago and immediately blew the whistle on questionable acquisition deals at the centre of its accounting problems, is waging a campaign to replace its directors.
He said he would pursue that campaign until any emergency general meeting of shareholders, but if it failed he would likely give up his battle to change the company.
Olympus restated some of its accounts on Wednesday, revealing that a 13-year accounting fraud had put a dent in its balance sheet.
Woodford arrived in Japan on Tuesday evening and will leave on Saturday.
(Reporting by Tim Kelly; Editing by Michael Watson)
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