First Read: Olympus Corporation "Announces change in Chief Quality Officer"

Research evidence excerpt

First Read: Olympus Corporation "Announces change in Chief Quality Officer"

Global Research

17 July 2026ab

First Read

EquitiesOlympus Corporation

Announces change in Chief Quality Officer Japan

Medical Supplies

12-month rating Neutral

Focus on CEO meeting scheduled for 22 July

Olympus announced a change in Chief Quality Officer after the 17 July market close. In 12m price target ¥1,760.0

August 2026, Brian Barry will replace Boris Shkolnik, who joined Olympus in 2022 and

has served in this role since April 2024. Compliance with FDA warnings has become one

Price (17 Jul 2026) ¥1,772

of the company’s share price catalysts, and we believe reasons behind this personnel

change are important. We will be focusing on comments at the CEO meeting scheduled RIC: 7733.T BBG: 7733 JP

for 16:00 JST on 22 July. Trading data and key metrics

52-wk range ¥2,116-1,311

Successor Barry is from Medtronic

Market cap. ¥1,951b/US$12.0b

Mr. Barry has worked in regulatory compliance divisions of several medical device

Shares o/s 1,101m (ORD)

manufacturers, most recently serving as Vice President, Clinical & Regulatory Solutions

Free float 95%

at Medtronic, where CEO Bob White has also worked. Mr. Barry is scheduled to leave

Avg. daily volume ('000) 5,090

Medtronic on 17 July (US time) and become Olympus’s Chief Quality Officer on 1

August. Avg. daily value (m) ¥8,786.5

Common s/h equity (03/27E) ¥817b

Background to personnel change unclear at this point P/BV (03/27E) 2.4x

Olympus explained that the personnel change was discussed by its Nominating and Net debt to EBITDA (03/27E) 0.7x

Compensation Committees. The background to change is unclear at this point. Details EPS (reported, basic) (¥)

will need to be confirmed at the CEO meeting on 22 July. After FDA inspections at the UBS Cons.