Scandal-hit Olympus has this afternoon published a statement following the resignation of its chairman earlier today, saying Tsuyoshi Kikukawa quit in response to u2018widespread concernsu2019 raised by shareholders.

CameraScandal-hit Olympus has this afternoon published a statement following the resignation of its chairman earlier today, saying Tsuyoshi Kikukawa quit in response to ?widespread concerns? raised by shareholders.

The statement reads: ?In consideration of the widespread concerns to [sic] Olympus? stakeholders? due to the recent series of media reports and fall in stock prices triggered by the company?s change in president on October 14 2011, Tsuyoshi Kikukawa has, as of today, stepped down from his position as company representative and also from his position as chairman, president and chief executive officer.?

Olympus denies any wrongdoing.

Kikukawa is replaced as Olympus president by Shuichi Takayama, 51, who joined Olympus in 1970.