SoftBank President Nikesh Arora to step down

SoftBank Group President Nikesh Arora will step down from his role and stay on as an advisor until he figures out his next move.
Arora, who was picked to become the Japanese conglomerate’s Chief Executive Officer succeeding founder Masatoshi Son, will no longer be a successor to Son, the company said in a statement (pdf) today.
The statement said

Arora became the Vice Chairman of Softbank Group and Chief Executive of SB Group US Inc in September 2014.
Son had been considering Arora as a strong candidate for succession, the company statement said. But difference of expected timelines between the two led to Arora’s resignation from the position, it said.
Son told Wall Street Journal “I was thinking of handing over my job as CEO when I turn 60, but thought maybe I’m still a bit too young, and still have energy to continue.”
As we’d reported earlier, investors had questioned Arora’s personal investments in other companies as a conflict of interest. However, earlier today reports said that he had been given a clean chit after the board reviewed his investments.
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