Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo  >  Olympus Corp    7733   JP3201200007

OLYMPUS CORP (7733)
My previous session
Most popular
  Report  
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Olympus : Under reorganization, Olympus elevates several Center Valley executives to global roles

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/11/2019 | 02:04pm EST

Jan. 11--Olympus Corp. of Japan is undergoing some changes, aiming to drive cost savings and generate growth through the strong U.S. market for medical devices.

That point was reinforced Friday, when the company announced it was elevating several executives at Olympus Corp. of the Americas in Center Valley to senior-level global roles.

That includes Nacho Abia, president and CEO of Olympus Corp. of the Americas. Abia will keep that position but also assume the role of co-head of the newly created Therapeutic Solutions division. Abia also will be responsible for global business development across the medical, scientific and imaging units of Olympus.

In addition, Richard Lebitz, the executive director of internal audit for Olympus Corp. of the Americas, has been appointed to serve as the global chief internal audit officer of Olympus. Lastly, Mark Miller, Olympus Corp. of the Americas' vice president of corporate and medical communications, will serve as the company's global chief communications officer and the regional head of communications for the Americas.

The three promotions are effective April 1. Abia, Lebitz and Miller will remain based in Center Valley.

"My colleagues and I are delighted to assume our new global roles within Olympus, which continues to adapt to meet the needs of the rapidly changing international markets," Abia said in a statement.

"In our new positions, we look forward to leveraging the experience and expertise we have developed at Olympus Corp. of the Americas in order to support Olympus' worldwide growth and to execute the company's increasingly global vision."

News of the promotions came a day after Olympus announced a "comprehensive transformation program to continue its development as a global medical technology company and drive improved performance, accelerating value creation for all stakeholders."

The nearly 100-year-old company also is nominating three new board members, including D. Robert Hale, a partner at U.S. hedge fund ValueAct Capital. ValueAct, Olympus' largest shareholder, began building a stake in the company more than a year ago, Reuters reported.

Further, Olympus Vice President and Chief Financial Officer Yasuo Takeuchi will be named company president and CEO. Current President Hiroyuki Sasa will transition to board director, as of April 1.

One major part of the reorganization is the simplification of Olympus' medical device business from five parts into two global divisions: Endoscopic Solutions and Therapeutic Solutions.

The Endoscopic Solutions division, a leader in endoscopes, will continue to be managed from Japan.

But the Therapeutic Solutions unit will be managed from the United States by Abia and fellow co-head Tomohisa "Tomo" Sakurai, who moved from Tokyo to Center Valley in the fall.

That allows the division, which consists of single-use therapeutic devices for the gastrointestinal and respiratory fields, along with urology, gynecology and ear, nose and throat products, to be located in the largest therapeutic device market with better access to customers.

Olympus Corp. of the Americas, which relocated from Long Island, N.Y., to Center Valley in 2006, has about 1,000 employees across two Lehigh Valley facilities.

The company's Center Valley headquarters handles sales, marketing, management and support services for North and South America, and Olympus also has a distribution center in Breinigsville.

jon.harris@mcall.com

610-820-6779

Get the inside scoop on the Lehigh Valley's business scene on The Business Cycle: themorningcall.com/business

Like on Facebook: facebook.com/LVBizCycle

Follow on Twitter: @LVBizCycle

___

(c)2019 The Morning Call (Allentown, Pa.)

Visit The Morning Call (Allentown, Pa.) at www.mcall.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

Stocks mentioned in the article
ChangeLast1st jan.
OLYMPUS CORP 17.48% 4705 End-of-day quote.42.58%
THERAPEUTIC SOLUTIONS INTERNATIONAL INC 7.89% 0.0041 Delayed Quote.-30.91%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on OLYMPUS CORP
01/11ASIA MARKETS: Fed Restraint, Trade Hopes Bolster Asian Markets
DJ
01/11Nikkei gains on strong Wall Street; Olympus jumps
RE
01/11SONY : Japan's Olympus to propose board seat for activist investor ValueAct
RE
2018OLYMPUS : Notice Concerning Recording Other Income (in the fiscal year ending Ma..
PU
2018OLYMPUS : Medical Systems Corporation, Former Senior Executive Plead Guilty to D..
AQ
2018OLYMPUS : Notice Concerning Settlement of Lawsuit for Damages from Past Deferral..
PU
2018OLYMPUS : Medical Systems Corporation, Former Senior Executive Plead Guilty to D..
AQ
2018OLYMPUS : to pay $85 mil. in U.S. for failure to report infections
AQ
2018OLYMPUS : Execution of a Plea Agreement with the U.S. Department of Justice
PU
2018OLYMPUS : Canada Recognized as a Greater Toronto Top Employer
AQ
More news
Financials (JPY)
Sales 2019 795 B
EBIT 2019 -
Net income 2019 30 679 M
Debt 2019 46 238 M
Yield 2019 0,71%
P/E ratio 2019 42,08
P/E ratio 2020 19,65
EV / Sales 2019 1,79x
EV / Sales 2020 1,66x
Capitalization 1 373 B
Chart OLYMPUS CORP
Duration : Period :
Olympus Corp Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends OLYMPUS CORP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 4 505  JPY
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Hiroyuki Sasa Executive President & Representative Director
Yasuo Takeuchi Chief Financial Officer, Director & Executive VP
Haruo Ogawa Director & Chief Technology Officer
Akihiro Taguchi Director, Manager-Sales & Marketing
Sumitaka Fujita Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
OLYMPUS CORP42.58%12 629
THERMO FISHER SCIENTIFIC5.22%94 622
DANAHER CORPORATION1.86%72 957
INTUITIVE SURGICAL7.63%57 410
BOSTON SCIENTIFIC CORPORATION-0.08%48 862
ILLUMINA1.85%43 981