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Nikesh Arora appointed as SoftBank President

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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

  1. Ola
  2. Snapdeal
  3. Housing

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.