The SoftBank Group on Wednesday named the head of their Japanese telecommunications operations Ken Miyauchi as the next President and Chief Operating Officer, reported Reuters. He will be replacing Nikesh Arora, who resigned on Tuesday.
Arora allegedly quit because of differences between him and company founder Masayoshi Son over when the former should take over leadership of SoftBank. Arora has also reportedly been under fire from a group of investors. They had in April called on the Board of Directors to investigate his track record and qualifications. On Monday, a special committee of independent members of its board of directors gave Arora a clean chit after reviewing allegations regarding his conduct.
Since Arora joined SoftBank, he invested nearly $4 billion in startups around the world to look for a technology company capable of driving future growth. SoftBank was founded as a software distributor in 1981 by Son. After it acquired Vodafone Group PLC’s Japanese operations in 2006, it became Japan’s third-largest mobile-phone service provider.