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TOKYO—Michael C. Woodford said that last Wednesday, as president and chief executive of Japan's Olympus Corp., he sent a letter to the imaging-equipment maker's chairman, urging him to resign over "serious governance concerns" and asking for a meeting Friday.

But when the British executive arrived at that emergency board meeting, Chairman Tsuyoshi Kikukawa told the group that Mr. Woodford had "a conflict of interest" and wouldn't be allowed to speak, according to Mr. Woodford. Instead of Mr. Kikukawa stepping down, the directors stripped Mr. Woodford of his executive positions.

At a blunt news conference later that day, Mr. Kikukawa said ...

TOKYO—Michael C. Woodford said that last Wednesday, as president and chief executive of Japan's Olympus Corp., he sent a letter to the imaging-equipment maker's chairman, urging him to resign over "serious governance concerns" and asking for a meeting Friday.

But when the British executive arrived at that emergency board meeting, Chairman Tsuyoshi Kikukawa told the group that Mr. Woodford had "a conflict of interest" and wouldn't be allowed to speak, according to Mr. Woodford. Instead of Mr. Kikukawa stepping down, the directors stripped Mr. Woodford of his executive positions.

At a blunt news conference later that day, Mr. Kikukawa said ...

Title:
Ousted Olympus CEO Michael Woodford Details of Conflict