SoftBank Group Adopts Enhanced Governance Standards for Investments
SoftBank Group Corp. today announced enhancements to its group investment policies through the establishment of a set of corporate governance standards that are required to be referred to when making determinations about potential investments. The standards cover a wide range of corporate governance aspects, such as the composition of the board of directors, founder and management rights, rights of shareholders, and mitigation of potential conflicts of interest.
The core purpose of the standards is to ensure a more consistent and formalized approach to the evaluation of corporate governance across SoftBank Group Corp. and its unlisted investing subsidiaries, including those managing the SoftBank Vision Fund L.P., as it pursues sustainable growth as a global strategic holding company. The standards have been selected to reflect an expectation for robust corporate governance that the SoftBank Group shares with members of the global investment community and other stakeholders. The standards are expected to enhance value creation and liquidity, and will be used as a benchmark for ongoing monitoring of investments within SoftBank Group's existing portfolio.
“These steps are in the best interests of investors and portfolio companies, and ensure the SoftBank Group takes a disciplined approach to investments around the world, building on existing governance efforts across our group,” said Masayoshi Son, Chairman & CEO of SoftBank Group Corp. “We'll continue to invest in leading industry innovators and disruptors that share our long-term vision to improve the quality of life around the world by accelerating the deployment of AI and breakthrough technologies.”
“We've already begun implementing these standards for the Vision Fund. Although every company is unique, we've found that the standards can be helpful guidelines for our portfolio company CEOs as they build their own governance and compliance programs,” said Rajeev Misra, Executive Vice President of SoftBank Group Corp. and CEO, SoftBank Investment Advisers, the manager of SoftBank Vision Fund L.P.
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