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SoftBank overseas business chief exits in latest churn

22 Tháng Sáu 2022
SoftBank overseas business chief exits in latest churn © Reuters. FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/

By Sam Nussey

TOKYO (Reuters) -Japan's SoftBank Group Corp said on Wednesday it has appointed Alex Clavel as chief executive of its SoftBank Group International (SBGI) unit, replacing Michel Combes who leaves after just six months in the role.

SoftBank transformed the tech industry with big bets on late-stage startups but the conglomerate has turned over much of its executive team and has been forced to radically scale back investing activity through its Vision Fund as its portfolio slumps.

Clavel takes charge of a hodgepodge of assets including chip designer Arm, which SoftBank hopes to list, and stakes in satellite company OneWeb, telco T-Mobile US (NASDAQ:TMUS) Inc and robotics firm Boston Dynamics.

The executive, who spent 19 years at Morgan Stanley (NYSE:MS) before joining SoftBank in 2015, participated in the restructuring of office space-sharing firm WeWork and the integration of Latin American funds into the Vision Fund following the departure of Chief Operating Officer Marcelo Claure.

The recent exits underscore the dominance by Chief Executive Masayoshi Son of the Japanese conglomerate and its board at a time of strategic drift. Son will address shareholders on Friday.

Son "needs people to provide safeguards, give him advice, and make him even more successful," outgoing SoftBank board member Lip-Bu Tan wrote in a statement earlier this month, adding that "poor choices made too quickly can have negative consequences for the company".

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08-07-2022 00:19:09 (UTC+7)

EUR/USD

1.0146

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EUR/USD

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 EUR/USD1.0146↑ Sell
 GBP/USD1.2001↑ Sell
 USD/JPY136.04Neutral
 AUD/USD0.6830↑ Sell
 USD/CAD1.2993↑ Buy
 EUR/JPY138.04↑ Sell
 EUR/CHF0.9886Neutral
 Gold1,740.20↑ Sell
 Silver19.198↑ Sell
 Copper3.5548↑ Sell
 Crude Oil WTI103.94↑ Buy
 Brent Oil105.79↑ Buy
 Natural Gas6.317Sell
 US Coffee C218.75↑ Sell
 Euro Stoxx 503,488.50↑ Sell
 S&P 5003,888.30↑ Sell
 DAX12,843.22Neutral
 FTSE 1007,189.08↑ Sell
 Hang Seng21,643.58↑ Buy
 Small Cap 20001,765.40↑ Sell
 IBEX 358,122.50↑ Buy
 BASF41.300↑ Buy
 Bayer56.59Sell
 Allianz178.46Buy
 Adidas169.28↑ Buy
 Lufthansa5.764↑ Buy
 Siemens AG97.71↑ Buy
 Deutsche Bank AG7.983↑ Sell
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# So hôm qua # Chênh TG
SJC Eximbank6,765/ 6,825
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