Softbank Continues To Lose Key Official In Quick Succession

Softbank Group Corp SFTBY 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 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.