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Nikesh Arora to step down from SoftBank president and COO post

Nikesh Arora, SoftBank Group's president and chief operating officer is stepping down from his position shortly after being given a clean chit regarding allegations that he was compensated by private equity firm Silver Lake for helping with potential technology company investments that were similar to the investments he made for SoftBank. The Wall Street Journal said that Arora will remain as an adviser to the firm, which a Softbank spokesperson has confirmed independently to MediaNama. Arora confirmed the development via Twitter. No! Arora departs after doing what he promised and Masa wanting to be CEO for longer. :). Arora for clean chit. https://t.co/nthM0l65c3 — Nikesh Arora (@nikesharora) June 21, 2016 Arora added that SoftBank founder Masayoshi Son wanted to continue as CEO for 5-10 years more. Son had publicly said in June 2015 Arora will be the CEO of the group once he retires. The WSJ report added that Ron Fisher (a SoftBank board member) and Alok Sama (CFO of SoftBank International) will fill  Arora’s role in directing overseas investments. In March, SoftBank Group split into two organizations which would look into domestic and global operations. Arora was made the CEO of the global operations. The investment securities of global subsidiaries and affiliates such as Starburst Ⅰ, Inc. (a holding company that holds the shares of Sprint Corporation) and Alibaba Group Holding Limited would be transferred to the global operations management company. Masa 2 continue 2 be CEO for 5-10 years, respect that. Learnt a lot. Clean chit from board after through review. Time for me to move on. — Nikesh Arora…

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