The former CEO of scandal-hit Olympus Corp, Michael Woodford, has resigned from its board of directors, an assistant of Woodford said.

Woodford will hold a press briefing in New York at 7 p.m. EST on Wednesday (00:00 a.m. BT), the source said.

Authorities in Japan, Britain and the United States are probing a decades-old cover-up of investment losses at the Japanese camera and medical equipment firm, which has lost more than half its market value since the scandal erupted and now risks being delisted from the Tokyo stock market and broken up or taken over.

(Reporting by Tim Kelly)