Fuji Xerox scandal claims another scalp: Gavin Pollard goes
Mr Pollard headed the local office for over two years
Fuji Xerox New Zealand managing director Gavin Pollard has departed the company as the fallout from the accounting scandal continues.
Mr Pollard headed the local office for more than two years after taking over from Neil Whittaker when he transferred to Australia. Before that Mr Pollard was general manager of sales for Fuji Xerox NZ for three years.
NBR has previously reported that Mr Pollard helped to introduce a new type of contract, called a Managed Services Agreement, to the company several years ago.
According to an independent investigation report, those contracts are at the centre of accounting issues that saw Fuji Xerox’s NZ and Australian subsidiaries overstate revenue by about $480 million between 2011 and 2016.
Under these contracts, Fuji Xerox NZ recorded sales with fees that depended on the customers’ actual equipment usage, based on the service usage volume expected at the time the contracts were executed.
But when the actual usage and billings fell short of projections, managers in New Zealand and Australia allegedly reported inflated numbers to meet revenue targets.
Several global executives have already resigned or been ousted, including former chairman Tadahito Yamamoto, deputy president Huruhiko Yoshida and two directors.
Mr Whittaker left the company last year, receiving a $1 million payout, according to the independent report.
Isamu Sekine, president and chief executive of Fuji Xerox Asia Pacific Pte Ltd will be interim managing director of Fuji Xerox NZ until a successor has been appointed, the company said in a statement.
Fuji Xerox says it continues to receive strong support from its ultimate parent, Fujifilm Holdings.
Duncan Bridgeman
Thu, 10 Aug 2017
Thu, 10 Aug 2017
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Fuji Xerox scandal claims another scalp: Gavin Pollard goes
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