SoftBank's president Nikesh Arora to resign

By Reuters
June 21,2016
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SoftBank Group Corp. Chairman and CEO Masayoshi Son (R) and President and COO Nikesh Arora shake hands during a special lecture of the SoftBank Academia in Tokyo, Japan October 22, 2015. REUTERS/Toru Hanai/File photo

TOKYO (Reuters) - SoftBank Group Corp <9984.T> said president and chief operating officer Nikesh Arora, the potential successor to the Japanese company's chairman and chief executive Masayoshi Son, is to step down on Wednesday.

SoftBank cited differences between Arora and Son over when Arora would replace him as head of the group.

Arora wanted to begin the handover process in a few years' time, while Son planned to stay on for the time being to ensure the company's transformation into a global Internet company, SoftBank said.

Son said in a statement he did not want to keep Nikesh waiting for the top job.

Arora, a former Google executive who joined SoftBank in September 2014 to take charge of its overseas operations, will stay with Softbank as an adviser from July 1, the company said.

(Reporting by Makiko Yamazaki. Editing by Jane Merriman)