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SoftBank Corp names Nikesh Arora as president & Masayoshi Son’s likely successor

Japan’s SoftBank Corp has recently unveiled a management reshuffle, appointing investments head Nikesh Arora as president and naming him as a potential successor to CEO Masayoshi Son, reports First Post

Japan’s SoftBank Corp has recently unveiled a management reshuffle, appointing investments head Nikesh Arora as president and naming him as a potential successor to CEO Masayoshi Son, reports First Post

According to the First Post report, the new development comes as Son and SoftBank are battling to make their 2013 acquisition of U.S. carrier Sprint Corp for more than $20 billion profitable. A sluggish Japanese economy, though, has forced the company to increasingly look overseas for growth.

Announcing Arora’s appointment at SoftBank’s earnings conference, billionaire Son, who is relinquishing the president’s post, said the former Google Inc executive was a “strong candidate” to lead the company in future.

“Yes. He’s 10 years younger than me, and he has more abilities than me,” Son told reporters, when asked if Arora was a potential candidate to succeed him.

“The last nine months I’ve spent with him have made me sure of that, but I’m not going to retire soon,” Son was quoted in the report as saying.

Arora was hired in July to run a newly created unit called SoftBank Internet and Media Inc, reporting directly to Son. He became one of the most powerful Google executives, and the highest paid in 2012, when he made $51 million in cash and stock.

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