Softbank Continues To Lose Key Official In Quick Succession

  • Softbank Group Corp SFTBY SFTBF SoftBank Group International named SBGI Managing Partner Alex Clavel as CEO, effective June 30.
  • Clavel, a seven-year veteran in the company, succeeded Michel Combes, who departed to pursue new opportunities after five years in the company.
  • Combes had assumed the CEO position five months back, succeeding former SoftBank COO Marcelo Claure.
  • Claure departed after a conflict with founder Masayoshi Son over his compensation and responsibilities.
  • SoftBank looks to conduct fewer and smaller deals in 2022 after five years of deploying billions of dollars into some of the world’s most celebrated startups saddling SoftBank with a record loss in the March year-end after a global rout in tech valuations, Bloomberg reports.
  • Interestingly, Claure was CEO of SoftBank-controlled Sprint from 2014 until 2018, the TechCrunch reports. Combes succeeded Claure until the spring of 2020, till Sprint’s merger with T-Mobile US, Inc TMUS won regulatory approval.
  • Two of the three managing partners at SoftBank’s Latin America Fund departed to start their venture businesses. 
  • Ronald Fisher, Son’s long-time lieutenant, also stepped down from leading the Vision Fund’s U.S. arm.
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