SoftBank Corp announced current CTO Junichi Miyakawa would be appointed as its CEO and president from 1 April, as founder of its parent group Masoyoshi Son (pictured) reduces his role within the company.
In a statement, SoftBank Corp explained Miyakawa would replace Ken Miyauchi as the new chief, while the latter was appointed chairman, replacing Son.
Miyauchi held the CEO and president position since 2015.
The operator stated the change was part of its strategy to “achieve sustainable growth as a listed company”, and it needed to make changes to management at appropriate times “and pass on the strengths of its current management system to future generations”.
Its nominating committee began deliberations about a successor to Miyauchi two years ago, with “serious deliberations” conducted since early 2020.
The company explained it chose Miyakawa “in light of his deep knowledge of cutting-edge technologies” and management capabilities, at a time when the integration of Line [1] with its subsidiary Z Holdings will result in a major restructure.
Despite stepping back from his chairman role, Son will remain on the operator’s board.
Speculation has been rife in recent years about Son’s succession plans: in 2018, Son said he was stepping back from the operational side of the business in favour of the investment side, when he launched the Vision Fund [2] to invest in technology companies.
[1] https://www.mobileworldlive.com/apps/news-apps/covid-19-delays-softbank-line-merger
[2] https://www.mobileworldlive.com/featured-content/top-three/son-unveils-softbank-investment-master-plan
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