Medical technology company Olympus has rejected CEO Stefan Kaufmann following an allegation that he purchased illegal drugs.

After Olympus investigated the allegation, the board unanimously agreed that Mr. Kaufmann, who was named CEO in April 2023 after two decades with the company, had “probably engaged in behaviors incompatible” with the company’s code of conduct, values ​​and principles. culture, according to an October 28 press release.

Mr. Kaufmann resigned after the board requested his resignation.

Yasuo Takeuchi – former CEO of Olympus and current management representative, executive chairman and head of environment, social and governance – will act as interim CEO.

The company said it “deeply apologizes for the concern this has caused our shareholders, customers and all stakeholders.”