TOKYO (Kyodo) — Olympus Corp. announced Monday that CEO Stefan Kaufmann had resigned from his position following allegations that he purchased illegal drugs.

The Japanese company launched an investigation after hearing the allegation and its board unanimously determined that its CEO “likely engaged in behavior inconsistent” with its code of conduct, it said.

Following the decision, the company asked Kaufmann to resign and he agreed, Olympus said. President Yasuo Takeuchi will serve as general manager for the time being.

Police are also investigating the case after precision optical equipment reported the problem to authorities, investigative sources said.

Kaufmann became the company’s first non-Japanese CEO in April 2023 since former CEO and accounting fraud whistleblower Michael Woodford was ousted in 2011.

The executive, originally from Germany, joined a European unit of Olympus in 2003 and rose through the ranks.