2 More Directors Depart from SoftBank Group: FT

SoftBank Group Corp SFTBY SFTBF directors Yuko Kawamoto and Ron Fisher will depart as board members, the Financial Times reports.
High pressure from U.S. hedge fund Elliott Management and other investors over better corporate governance practices led to the election of Kawamoto.
Kawamoto had reportedly challenged its founder Masayoshi Son on internal control issues.
SoftBank’s first woman director Kawamoto will become National Personnel Authority commissioner. SoftBank has selected another female director to replace her.
Fisher, who supervised most of SoftBank’s WeWork investment, will depart after 26 years. He reportedly worked the closest with management on its strategy and growth plans.
SoftBank has defended the resignation as Fisher’s decision and was unrelated to the WeWork investment.
Fast Retailing Co Ltd FRCOY CEO Tadashi Yanai and Alibaba Group Holding Ltd BABA co-founder Jack Ma resigned as directors as SoftBank started investing in technology start-ups through its $100 billion Vision Fund.
Arm CEO Simon Segars will depart after SoftBank sold the U.K. company to NVIDIA Corp NVDA.
Price action: SFTBY shares traded lower by 1.47% at $39 on the last check Friday.