“This spring is the best timing for generational change”… Miyakawa leads future management
“Son Jung-eui retained the position of SGB chairman… Group strategy and investment company cooperation”
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(Tokyo = Yonhap News) Correspondent Se-won Lee = Chairman Jeong-eui Son, the founder of Softbank, a Japanese mobile phone company, will step back from the front line of management of the company.
Instead, he is expected to focus on making strategies for the holding company Softbank Group (SBG) or conducting various investment activities.
Softbank announced the promotion of vice president and chief technology officer (CTO) as president and chief executive officer (CEO) of Junichi Miyakawa, the Nihon Keizai newspaper (Nikkei) on the 27th. Reported.
Gen Miyauchi (Miyauchi, 71), who currently serves as both the president and CEO of SoftBank, moves to chairmanship.
Son Jung-eui resigned from SoftBank’s chairman and assumed the position of’Founder Director’.
Softbank and SBG explained that he will continue to act as president and chairman at SBG and exercise representation.
Personnel will be executed on April 1 of this year.
Softbank WeWork signboards installed in Tokyo. Chairman Son Jeong-eui (Japanese name Masayoshi Son) invested in the WeWork project through the Vision Fund, and it is expected that the investment will continue in the future.
According to this greeting, it is expected that Son will reduce his involvement in SoftBank, and SoftBank will begin a generational shift in management.
When Miyakawa takes office, SoftBank’s CEO will be 16 years younger. Miyakawa is eight years younger than Son.
Softbank said, “To realize sustainable growth, we believe that it is necessary to change generations of management in a timely manner and to inherit the advantages of the current management system.” “The best timing is in the spring of 2021, when our group structure changes drastically with management integration.
Regarding Miyakawa, he added, “As a new president and CEO, we will lead our management as a new president and CEO.”
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Miyakawa, from Aichi Prefecture, graduated from Hanazono University and worked in the IT industry, before moving to SoftBank BB Director in 2003.
He has a wealth of experience as a telecommunications expert, including SoftBank’s purchase of Vodafone’s Japanese subsidiary in the UK in 2006 to participate in the mobile phone business and then strive to improve communication quality.
He was in charge of rebuilding the US Sprint (now T-Mobile US), which was purchased in 2013, and was also in charge of 5G network maintenance, such as serving as the Chief Technology Officer (CTO) and also in charge of network maintenance at Softbank.
He is also the president of Monet Technologies, which was jointly funded by Toyota Motor Company and Softbank, and is known as an’idea man’ who actively seeks out new businesses.
As major telecommunications companies such as SoftBank accept the reduction in mobile phone rates, which the Suga Yoshihide regime has put forward as a national task, competition in the communications sector is fierce, and the profitability of SoftBank’s flagship mobile phone is expected to deteriorate. Is expected to expand its business in the non-communication field.
As the third generation of Koreans in Japan, Chairman Son, who has led the Japanese IT industry, is also paying attention to the division of new roles as to how he will continue in relation to the group and investment.
A SoftBank official said, “As a founder, Chairman Son will continue to support the growth of our business by providing advice to our (Softbank) management and cooperation with SoftBank Vision Fund based on the management philosophy of the group.” SBG explained in a call with Yonhap News that “investment and other activities continue unchanged.”
The Asahi Shimbun said that Chairman Son will continue to be in charge of cooperation with investment companies and the strategy of the group as a whole.
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In 2015, Chairman Son appointed Nikesh Arora, vice president of overseas business, a former Google executive, as SoftBank’s vice president, and appointed him as the de facto successor.
At the time, Chairman Son explained, “I still want to work on some crazy ideas,” and “I need to work as president for at least 5 to 10 years, but it is a long time to wait for Arora to become a leader.” .
Chairman Son is also famous for being the’big hand’ of the stock market, leading aggressive investments in the IT industry, such as allowing Softbank to buy large quantities of stocks in Amazon, Microsoft, and Netflix.
With the recent spread of the new coronavirus infection (Corona 19), it has contributed to suppress the spread of infection in areas other than the main business, such as expanding gene amplification (PCR) tests and supplying masks.
Vision Fund, an affiliate of Softbank, is known to own a 37% stake by investing $2.7 billion in Coupang, a Korean company.
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2021/01/27 14:02 sent