New Delhi: Japanese conglomerate SoftBank on Wednesday said Ken Miyauchi, head of the group’s Japanese telecommunications operations, would replace Nikesh Arora as president and chief operating officer.
On Tuesday, Arora had abruptly resigned from his position after it became clear that Chairman and CEO Masayoshi Son wanted to continue in his current post for another 5-10 years.
Miyauchi held 1,101,230 shares of SBG as of March 31, 2016, according to a statement by SoftBank. Arora, who was touted as heir apparent at SoftBank, had said he can’t be “CEO-in-waiting past his sell-by date” as his 58-year-old boss Son wanted to continue.
Arora, who was hand-picked by Son two years ago to succeed him, was among the top-paid executives globally.
He will remain in an advisory role at SoftBank for a year.