Japan’s SoftBank Corp unveiled a management reshuffle on Monday, appointing investments head Nikesh Arora as president.
Also named him as a potential successor to CEO Masayoshi Son, as the telecoms conglomerate steps up its overseas expansion.
- Arora, 47, is presently SoftBank’s vice-chairman leading the group’s internet investment arm.
- Mr. Son’s promotion of Mr. Arora from vice chairman to president of the company appears to indicate a new investment emphasis, in what Mr. Son called a “systematic approach to supporting our group of disruptive entrepreneurs.”
- So far, SoftBank has been a hybrid when it comes to investments, owning the third-largest mobile-phone service providers in both Japan and the U.S.
- But it has been investing much smaller sums in fledgling Internet and technology companies.
- For its fiscal fourth quarter, SoftBank said its net profit jumped to ¥88.91 billion from ¥20.41 billion, while its revenue rose to ¥2.24 trillion from ¥2.10 trillion.
- He said SoftBank will be renamed SoftBank Group Corp.
About Soft Bank :
- It is a Japanese multinational telecommunications and Internet corporation, with operations in broadband, fixed-line telecommunications, e-commerce, Internet, technology services, finance, media and marketing, and other businesses.
- It was established in 1981.
- Headquartered in Tokyo.
- SoftBank was the 86th largest company in the world by market capitalization.
- Masayoshi Son – Chairman & CEO.
- SoftBank celebrated its 30th anniversary in 2010.
Softbank and India :
It has funneled about a billion dollars across three Indian tech startups
Subsidiaries of Softbank :
- SoftBank Mobile (with the Share of 99.99%)
- Sprint Corporation (80%)
- SB Creative
- Yahoo! Japan (35%)
- GungHo Online Entertainment (58.5%)
- Alibaba Group (37%)
About Nikesh Arora :
- He was Senior Vice President and Chief Business Officer of Google Inc. (Google) since January 2011 until July 2014.
- Arora worked as Chief Marketing Officer of Bharti Airtel, Europe
- He served as Chief Marketing Officer of the T-Mobile International Division of Deutsche Telekom AG.
- He served on the board of directors at Colgate-Palmolive Company.
- At Google, he oversaw the company’s biggest moneymaker, the sale of advertising linked to its search engine.
- He joined Softbank last year as Vice-Chairman.