HomeBUSINESSRajeev Misra to step down from key roles at SoftBank Group

Rajeev Misra to step down from key roles at SoftBank Group


BENGALURU : Rajeev Misra will be stepping down from his roles as a corporate officer and executive vice president of SoftBank Group Corp, the company said on Wednesday.

This comes against the backdrop of a slide in technology stocks resulting in a record loss for the Japanese investment group.

The 60-year-old will retain his post as head of SoftBank Investment Advisers, which looks after the first Vision Fund’s existing investments.

SoftBank founder Masayoshi Son will take over new investments under the second Vision Fund, the company said.

The breakaway by Misra, who was integral to the transformation of SoftBank into one of the world’s biggest tech investors, deepens the sense of strategic drift at the Japanese conglomerate.

In May, the Vision Fund unit reported its biggest ever loss as the value of its portfolio slid and a string of executives, including group chief operating officer Marcelo Claure, quit the company.

Earlier this month, Sumer Juneja was given the additional responsibility of overseeing its European investments, amid a management churn at SoftBank Investment Advisers as Vision Fund losses mount.

Last month, Bloomberg reported that Misra will step back from his main role at SoftBank Global Advisers to launch his external fund.

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