“SoftBank Group International has appointed Alex Clavel as their new Chief Executive replacing Michel Combes who joined the Corp. just six months ago”, SoftBank Group Corp said on Wednesday.
It transformed the technology sector by placing large investments in late-stage entrepreneurs, but the conglomerate has lost a significant portion of its senior staff and has been forced to drastically reduce investing via its vision funds as the performance of its portfolios deteriorates.
After joining Clavel will take charge of heterogeneous products and services which includes Chip Designer Arm, which is a hope of Softbank to take the list, stakes in satellite company OneWeb, Telco T-Mobile the US Inc, and Boston firm Robotics Dynamics.
Following the retirement of Chief Operating Officer Marco Claure, the executive spent 19 years at Morgan Stanley before joining corp. in 2015.
He was involved in the reorganization of office space sharing startup We Work as well as the integration of Latin American funds into the vision fund.
Outgoing Softbank board member Lip-Bu Tan stated earlier this month that Son “needs people to provide protections, give him counsel, and make him even more successful,” adding those wrong decisions taken too hastily will have major ramifications for the firm.
SoftBank Japan
(SofutoBanku Gurūpu Kabushiki-gaisha) is a Japanese- multinational conglomerate holding company headquartered in Minato, Tokyo.
The bank focuses on managing investments SoftBank Group Corp invests primarily in companies that operate in the financial sectors, energy, and technology.
Owner: Masayoshi Son
Founder: Masayoshi Son
Headquarters: Tokyo
Why it is called SoftBank?
It is called SoftBank because in Japanese ‘software’ is called ‘soft’. So the name “SoftBank” literally means “a bank of software”.
The Group started its operation in 1981 as a distributor of computer software. They chose the word “bank” based on their wide ambitions to be a key source of infrastructure for the information society.
See Also – https://www.linkedin.com/in/alex-clavel-7746684
