Japanese endoscope manufacturer Olympus said Monday it has sacked Chief Executive Stefan Kaufmann after an allegation that he had purchased illegal drugs, sending its shares sliding 6%. Kaufmann, a German national who only took the helm in April last year,

Olympus shares plunged six percent in morning trade as the company apologised "for the concern this has caused to the shareholders.

Olympus has dismissed its global CEO, Stefan Kaufmann, following allegations of illegal drug purchases. His predecessor, Yasuo Takeuchi, returns as in