Woodford was previously the head of Europe at Olympus. He was fired as CEO after only holding the position for less than a year. This is bound to have a great impact on the company's stock price.
This shows that the conflict between him and the board of directors has become so acute that it is irreconcilable. However, Fang Zhuo likes to see this.
Contradictions need to be broken, and things need to be resolved. We firmly encourage and support Woodford's counterattack.
On September 17, Woodford, who originally wanted to return to the UK, accepted the invitation of the Wall Street Journal and decided to come to New York to announce everything he knew to the media around the world.
Just as Woodford boarded the plane from Tokyo to New York, Fangzhuo took a private jet back to New York, intending to experience the atmosphere of the incident up close.
However, the Olympus uprising occurred slightly earlier than expected, which made Kong Yu quite anxious. He had not yet finished his investigation work. Are there any other Japanese counterfeiting companies that have slipped through the crackdown?
Can it be possible to alert the enemy with just a few of them?
Fang Zhuo felt this emotion and gave a response: "It's just a matter of making more money and making less money. Whether it's Toshiba, Sony, Nikon or Panasonic, their own situation is already very bad."
How bad is it?
Later, although Woodford used the media to hint at the company's situation, this was to force the board of directors and lower management to make concessions. That time, when I was dismissed from my position without any suspense, I became outspoken.
Jing Yifu also laughed. He smiled and wiped his eyes, put on his mobile phone, and fell into the long exam that often happened recently. How did he get to that point?
Is that reasonable?
"You hired PricewaterhouseCoopers, an internal eighth-party auditing company, to investigate Zhu Liangliang's eight acquisitions in the past 2006-2008, and found that we established eight funds in Singapore, London and Tokyo.
They acquired a valuable leather goods company in Haili, then incurred huge losses, and then wiped out the past losses and false accounts to cover it up."
Afterwards, Kazuo I considered elevating Olimba Hira to the position of president of Sony Computer Entertainment SCE. At that time, there were no two alternatives, Yoshihisa Ishida and Kuni Suzuki.
"No matter how you face the media and pass the blame to Nobuyuki Idei, he is still to blame for its current situation. Now that he is leaving, let's do our best to get Sony back on track."
Resolutely respond to Woodford's call and make sure that the Japanese business community will be shamed!
On September 22, Englishman Woodford held a press conference in New York to denounce Stringers for minor financial fraud and praised the relevant Japanese departments for their actions.
"Hahaha, Mr. Fang, are you kidding me?" Ichifu sounded like he was not completely open-minded until he had no other solution. It can only be said that this is not the epitome of the current operating conditions of Japanese companies.
Although Ping Zhu Liangliang is Japanese, I later worked in the United States, and I belonged to Zhu Liangliang's own side, so I could be lenient even if I doubted it.
Woodford listened to the clicking sound of reporters taking pictures, looked at the uproar on the stage, and said again: "You have reported to the relevant Japanese departments a total of 6 times, but you have not received the slightest support, and even no response at all.
!”
Sony can still understand that with Stringer leading the way and him making suggestions beside him, what will happen to him?
Zhu Liangliang's current indifference towards that matter may be weaker than that of Sony's affairs. At present, Sony's internal situation is not out of control. The group's financial situation can be dealt with this year, and the local direct lineage has once again reared its head.
"Weakly bulldozing Olympus will only lead Sony into an even more chaotic situation."
I am a compatriot, I am a CEO, I am a Japanese company, I have no financial problems, I am a rabbit and a fox.
Furthermore, Woodford also recounted those months when he was personally humiliated by the board of directors, colleagues, and even the Japanese media and public. Was that right?
Fang Zhuo expressed his joy and talked a little about the work of the charitable foundation established in New York.
I originally thought that Sony led by Stringer's $7 billion loss was unsurpassed, but now confirmed news is that Panasonic's loss figure this year may be even higher than this.
At that press conference, small-name media such as the Financial Times, Wall Street Journal, and New York Times gathered, and they were very interested in the fraud committed by industry giants.
Fang Zhuo is just talking nonsense. Will Ping Olimba get the position of SCE President next time? My current qualifications and identity are obviously flawed in the selection of CEO. Sony has not made a mistake with Ichio once. How can it still be done?
Do you want to push Ping Zhuliangliang, who has no technical background, to the next position?
"Does he really want to see Sony go bankrupt?"
Fang Zhuo played his role as an internal director and said: "Old Sir, you are talking about him. The reason why Sony is where it is now is precisely because he is very keen on the technical field. Even he is like that. Next
Do you want Ping Olimba, who lacks technical background, to stir up the Sony whirlpool?”
"In fact, Stringers has been speculating on a small amount in real estate and the stock market since the early 1980s and has incurred losses, but we are willing to do so, covering up while continuing to speculate, and rarely falsify accounts and payments.
Retreat through the nautical branch."
The leader of an enterprise is not less important after all. Just look at Zhu Liangliang and you will know. Zhu Liangliang is the real master of Sony's ZTE. Since I missed it next time, I will be on the forefront that time.
Woodford followed up by presenting some of the evidence and the audit report from PricewaterhouseCoopers, successfully gaining less uproar. In the end, I chose Yoshihisa Ishida.
As the head of a Japanese giant, I have always heard more or less about Stringers' recent situation, especially that compatriot Woodford was abruptly fired by the board of directors.
When the sun set and the outside of the office was enveloped in darkness, I vaguely got the answer. On the contrary, I felt that being in the position of the head of Sony was a kind of torture.
"Stringes is just a Japanese company. Not 70% of its sales are in the European and American markets. It is an influential overseas company and it has no obligation to be responsible to all investors overseas!"
Fang Zhuo gave his opinion at that time. Sony SCE was very important. We had just eliminated Ken Kusaragi, and those with no engineering resume or technical genes like Olympa Hira should be eliminated first.
The next day, when Kazuo I started to fall asleep again, I arrived at the company and noticed the latest news from another Japanese company.
Even though I later introduced Western-style reforms to the board of directors, no matter how I changed it, the small, middle- and lower-level management still had to rely on performance, not to mention that the shareholders’ meeting was also the frontline check and balance.
On the morning of his arrival in New York, Zhu Liang called off the phone with Kazuo I and asked Sony if it had found any effective way to reverse the situation. A burst of flashlights flashed at the press conference, recording the CEO's revelation of the company's financial fraud and his response to Stringers.
Complaints from relevant Japanese departments.
"Old Sir, is he going to make the same mistake again and again?" Fang Zhuo's tone became gentler.
Ichifu said for a long time, "Oh, that's all. Although Mr. Fang is very selfish, what he said makes no sense. He always wants to leave a legacy for Sony first."
It is precisely because of the decline in their competitiveness that they are committing financial and product degradation fraud on a smaller scale.
"By the way, I heard that Matsushita could make a loss of 4 to 4 billion US dollars this year, hahaha. It's really unbelievable." Fang Zhuo mentioned another famous Japanese company before the call started, thinking that it would always be comforting.
Old Sir.
"Zhu Liangliang Si has concealed investment losses of up to 100 billion yen in the past 20 years!" I talked about that issue over the phone and thought that Ping Zhu Liangliang might be able to push it a little further.
In response to this, when the Internet reports were slowly fermenting, the head of Yike, who was paying close attention to the development of the incident, became angry. It would definitely make Woodford a lone hero!
What Ichio is thinking about now is not whether he can get a better evaluation before resigning at the end of the year or next year. Based on that situation, I haven't selected the next CEO for Sony yet. I hope that CEO can speak for me.
I was extremely excited, sad and angry, and without any sense of vengeance, I said in a deep voice: "What the Stringers board of directors, lower-level leaders and relevant Japanese departments did is not only hurting investors, but also damaging Japanese companies."
The world will be shamed!"
This chapter has been completed!