High Quality Content by WIKIPEDIA articles! The Olympus scandal was precipitated on 14 October 2011 when British-born Michael Woodford was suddenly ousted as chief executive of international optical equipment manufacturer, Olympus Corporation. He had been only two weeks into the job when he exposed "one of the biggest and longest-running loss-hiding arrangements in Japanese corporate history", according to the Wall Street Journal. The incident raised concern about the endurance of tobashi schemes, and the strength of corporate governance in Japan.