SoftBank President Nikesh Arora to resign as president

NEW DELHI: Japanese telecom and internet giant SoftBank Group Corp (SBG) has announced the resignation of Nikesh Arora, Representative Director, President & COO, effective from June 22.

"Nikesh Arora, Representative Director, President & COO, will resign from the position of Representative Director and Director of SBG with the expiration of the term of office at the conclusion of the 36th Annual General Meeting of Shareholders," the statement said.

Arora assumed the position of Vice Chairman of SBG and CEO of SB Group US, Inc. (the former SoftBank Internet and Media, Inc.) in September 2014, and has been deeply involved in the establishment and execution of the growth strategy of the Group. He then assumed
the position of Representative Director and Director of SBG in June 2015.

Masayoshi Son, Chairman & CEO of SBG, had been considering Arora as a strong candidate for succession. Son’s intention was to keep leading the Group in various aspects for the time being, while Arora wished to start taking over the lead in a few years’ time.

The difference of expected timelines between the two leads to Arora’s resignation from the position of Representative Director and Director of SBG with the expiration of the term of office and his next steps.