A CAMPAIGN is under way calling for a leading Southend businessman to be reinstated as head of one of the world’s biggest companies.

A petition has been launched in Japan urging Olympus to allow Michael Woodford to return to his role as president and chief executive of the global firm.

Former Olympus Corp executive Koji Miyata is behind the campaign, which came after Mr Woodford was removed after raising concerns about the way the business had been run financially.

Mr Miyata has set up a website – Olympusgrassroots.com – in which he addresses an open letter to Olympus employees.

He said: “The events of the past few weeks have cast doubt on Olympus’s survivability as an independent enterprise.

“Unwilling to sit passively and witness the demise of a company I love, I have taken action.

“I have gone public with proposals, including the reinstatement of Michael Woodford as president, for revitalising Olympus.”

Mr Woodford took the top job in April, but was fired after the Olympus board claimed he had “largely diverted from the rest of the management team” in the way the business should operate and this was “causing problems for decision-making” by the team.

Soon after his sacking Mr Woodford, who has lived in Southend for more than 30 years, asked the Serious Fraud Office to investigate claims the company, which is known for making cameras and medical equipment, paid nearly $700million to an unknown firm in the Cayman Islands.

The company responded saying its auditors had found “no dishonesty or illegality” in the deal.

Last week, Mr Woodford was vindicated after Olympus admitted it had used payments to cover up unknown losses and the company may consider criminal complaints against former executives.