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Nikesh Arora steps down as Softbank President

India-born Softbank President And COO Nikesh Arora, Will Step Down From The Telecom Giant Effective June 22, The Company Said. The 48-year-old Took Over As President And COO Of SoftBank In May 2015, Was Seen As A Potential Successor To Billionaire CEO Masayoshi Son.

News Nation Bureau | Edited By : Pankaj Samantray | Updated on: 21 Jun 2016, 07:00:21 PM

New Delhi :

India-born Softbank President and COO Nikesh Arora, will step down from the telecom giant effective June 22, the company said. The 48-year-old took over as president and COO of SoftBank in May 2015, was seen as a potential successor to billionaire CEO Masayoshi Son.

Arora was the one of the highest paid executives with a pay package of about $73 million (Rs 500 cr) in the fiscal year ended March 31. In the previous year, he got a $135 million (Rs 850 cr) including a bonus.

The Softbank president has funded many start-ups like Snapdeal, Ola, OYO Rooms and Housing.com.  

The former Google executive was accused of making bad deals earlier this year. Arora will move to an advisory role and continue to support SoftBank, while he zeroes in on his next challenge.

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First Published : 21 Jun 2016, 06:56:00 PM

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