UPPER SAUCON TWP., Pa. – Olympus Corporation is announcing a slew of changes at the top, including at the home of its U.S. operations in Lehigh County.
Bob White, CEO of the MedTech company with global headquarters in Japan, talked about the changes during Olympus’ third quarter fiscal 2026 earnings report on Friday. He called 2026 a rebuilding year, “the year we fix the foundation of Olympus to position us for profitable growth moving forward.”
A leadership chart shared during the presentation shows eight new appointments, including Richard Reynolds, who is stepping into the role of President of Olympus Corporation of the Americas (OCA), which has its main offices in Upper Saucon Township and employs more than 4,500 people throughout locations in North and South America.
“Richard brings proven leadership experience, with over 30 years at Olympus, combined with an excellent track record of delivering consistent results,” White said.
According to his biography on the Olympus website, Reynolds, a native of North Yorkshire, England, started his career with Olympus in 1995. He’s held various senior roles at OCA, including Executive Vice President of Sales and President of the Medical Systems Group.
Julien Sauvagnargues had served as both President and CEO of operations in the Americas since 2024; he’s now listed as a senior executive advisor on the company’s website.
Olympus’ global operations have also named a new Chief Human Resources Officer (CHRO), Chief Manufacturing and Supply Officer (CMSO), and Chief Financial Officer (CFO), as well as several new regional presidents and division heads.
“We’re moving fast and taking decisive action to improve our strategic and execution capabilities,” White said of the leadership changes.
White also mentioned the company’s previously announced plans to cut some 2,000 positions from its global payroll. “This is not a one-time cost adjustment; it represents a fundamental shift in how we operate—creating an organization that is more focused, more agile, and more efficient,” he said.
An Olympus spokesperson told 69 News the leadership shift is part of that overall restructuring.
“As part of this initiative, Olympus has streamlined regional leadership operations globally with the appointment of one president for each region, all of whom report to the global Olympus CEO. The title of CEO for the Americas will no longer be used,” the spokesperson said, adding that Sauvagnargues is “actively supporting the leadership transition.”
The numbers
Olympus’ third quarter revenue was ¥261.0 billion (about $1.7 billion), up 4% year-over-year, with yen depreciation serving as a tailwind, the company said.
Operating profit was ¥24.1 billion (about $157 million), a decrease of 37% from the year before. The company attributed the decline, in part, to worsening sales, the impact of U.S. tariffs and expenses related to the voluntary recall of certain surgical devices.
“Additionally, we recorded approximately ¥12.5 billion (about $82 million) in expenses associated with implementing measures to transform our global organizational structure and optimize headcount,” said CFO Tatsuya Izumi.
Adjusted operating profit, which excludes other income and expenses, was ¥39.3 billion, with an adjusted operating margin of 15.1%. (about $257 million), a decline of 9%.
Olympus is revising its full year fiscal 2026 forecast. It’s now forecasting an adjusted operating profit between ¥127 billion and ¥139 billion, down from the ¥157 billion it was predicting in November.
Despite the revision, “there is no change to our plan to increase our annual dividend by ¥10 per share compared to the last fiscal year to ¥30 per share. In addition, share buyback of ¥50 billion was completed in October 2025,” Izumi said.
Olympus, formerly a camera company, shifted its focus in recent years and is now purely a medical-technology company, making products and systems for gastroenterology, urology and respiratory procedures, including endoscopes, bronchoscopes and otoendoscopes.
Besides its U.S. headquarters in Upper Saucon, Olympus also has a distribution center in Upper Macungie Township.