Nikesh Arora set to leave position as president and COO at SoftBank, board role at Sprint on July 1
In a move linked to investor unrest, SoftBank Group President and COO Nikesh Arora is set to leave those positions July 1, taking up an advisory role for the Japan-based firm. The move also is expected to see Arora relinquish his current position on the board of directors at SoftBank subsidiary Sprint.
SoftBank put a positive spin on the news, with CEO and Chairman Masayoshi Son touting Arora’s pedigree and his one-time wish to hand over the reins of the multinational to Arora when he turned 60.
“Nikesh is a unique leader with unparalleled skills around strategy and execution,” Son noted in a statement. “He should be CEO of a global business, and I had hoped to hand over the reins of SoftBank to him on my 60th birthday – but I feel my work is not done. I want to cement SoftBank 2.0, develop Sprint to its true potential and work on a few more crazy ideas. This will require me to be CEO for at least another five to 10 years – this is not a time frame for me to keep Nikesh waiting for the top job.”
Reports indicated the move was not as cordial, with discontent among SoftBank shareholders regarding recent business decisions leading to the change. The Wall Street Journal noted Arora’s announcement came just a day after a special committee investigating conflict of interest claims against Arora – who also advises a private equity firm – found no reason for dismissal. Other reports noted Arora was one of the highest-paid executives in the world, taking home more than $200 million in compensation over the past two years.
Prior to his time at Softbank, Arora served as chief business officer and a SVP at Google as well as a stint as CMO and a member of the board at T-Mobile Europe.
Son named Arora to Sprint’s board of directors last November, in a move expanding the carrier’s board to nine members and with an intent to provide greater leadership for Sprint.
“His broad experience and executive leadership in leading-edge technology companies will provide valuable insight and perspective to further Sprint’s growth and overall competitiveness,” Son said at the time.
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