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ISS Recommends Clients Vote Against Olympus’s Proposed President

ISS Proxy Advisory Services recommended that its clients reject Olympus Corp.’s proposed appointment of Hiroyuki Sasa as president, saying he lacks the right experience to lead the company after a $1.7 billion fraud.

“Sasa’s work experience does not appear appropriate” to head Olympus “at a time when the firm is faced with enormous tasks ranging from restructuring and financial stabilization to restoration of investor trust,” ISS said in a report published April 6.