Change of Representative Director (Resignation)
SoftBank Group Corp. (“SBG”) announces the resignation of Nikesh Arora, Representative Director, President & COO, 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 to be held from 10:00 a.m. tomorrow.
1. Reason for Resignation
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.
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.
2. Representative to Resign from the Board
| Name | Current title |
|---|---|
| Nikesh Arora | Representative Director, President & COO |
3. Scheduled Date of Change
June 22, 2016 (the date of the 36th Annual General Meeting of Shareholders)
4. Note
SBG expects to hold its Board of Directors meeting prior to the 36th Annual General Meeting of Shareholders to be held 10:00 a.m. tomorrow to withdraw a part of an agenda regarding the election of Nikesh Arora under “Proposal 2: Election of eight Directors” and partially revise the agenda to be submitted to the aforementioned Annual General Meeting of Shareholders.
-
Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.
