- Softbank Group Corp (OTC:SFTBY) (OTC: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 (NASDAQ: 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.
