The investigation by a committee of prominent outsiders recommends large changes in the culture and governance of Olympus Corp., the Japanese camera-maker caught up in a crisis after firing its new CEO for questioning payments and acquisitions made by his predecessor and approved by the board. When the scandal broke, the board belatedly appointed what it called the "Third-Party Committee", a team of lawyers and accountants headed by a retired judge, to find out what had happened. Though the report was not comfortable reading, it gave some succour to the workforce: "Olympus had originally been a sound company, with diligent employees and high technical strength. Not all part [sic] of the company was involved in this misconduct," the committee's report concludes, with the following sting in the tail: "Olympus should remove its malignant tumor and literally renew itself." Source document: The Third-Party Committee report is a 38-page pdf file, in its unofficial English translation.
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