SoftBank Group’s chief strategy officer, Katsunori Sago – and one of CEO Masayoshi Son’s key lieutenants – will step down at the end of the month.
Sago, a Goldman Sachs alumnus and former chief investment officer of Japan Post Bank Co where he was one of “Seven Samurai” who engineered a more aggressive investing approach, took the newly created strategy job at SoftBank in 2018.
His departure, announced on Friday, comes as power consolidated around Vision Fund chief Rajeev Misra and Chief Operating Officer Marcelo Claure – and as SoftBank invests in public companies under rising star Akshay Naheta.
Read more: GameStop shares enjoy power boost after cryptic tweet by shareholder
“Sago played a crucial part in expanding SBG’s potential as an investment company,” Son said in a statement, which did not provide a reason for the departure.
Last year, following investor pressure to improve oversight at the group, SoftBank removed several high-profile executives from the board, including Sago, Misra and Claure.
SoftBank Group last month reported that third-quarter net profit rose more than 20 times thanks to recovery at its Vision Fund.
- Reporting by Reuters
Also on ATF:
Bank of Japan chief dismisses calls to widen bonds yield band
Blinken heading to Japan, South Korea for first trip, reports say
