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SoftBank Loses Nikesh Arora

SoftBank Loses Nikesh Arora
Image credit: Nikesh Arora
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

SoftBank Group Corp Ltd President Nikesh Arora has announced his resignation from the post and the former Google executive will not be re-appointed to the post on Wednesday’s shareholder meeting.

Nikesh said he would continue as adviser to the firm for a year. Since on boarding SoftBank, Nikesh has invested billions of dollars in start-ups including Oyorooms and Housing.com.  

In a series of tweets in response to queries about his resignation, Nikesh said that he would continue to help startups.  Via his Twitter handle @nikesharora, he said that Masayoshi Son, Chairman & CEO of SBG, will continue to stay at his post for another 5-10 years.

Nikesh was touted to be a potential successor to Son. Nikesh has been under the radar for quite some time by investors who had asked for an investigation into some of the deals signed by him with high-profile executives.

However, he was given a clean chit by a special committee of board members less than 24 hours ago by the company.

 

Edition: December 2016

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