SoftBank Group Corp. (SoftBank) announced that Alex Clavel, currently Managing Partner at SoftBank Group International (SBGI), has been appointed as Chief Executive Officer of SBGI, effective June 30, 2022. Clavel will succeed Michel Combes, who has decided to leave SoftBank to pursue new opportunities. Clavel will bring seven years of leadership experience at SoftBank across…
Hyundai Motor Group announced it will acquire a controlling interest in Boston Dynamics in a deal that values the mobile robot firm at $1.1 billion. The deal came as Hyundai Motor Group envisions the transformation of human life by combining world-leading robotics technologies with its mobility expertise. Financial terms were not disclosed. Under the agreement,…
NVIDIA and SoftBank Group Corp (SBG) announced a definitive agreement under which NVIDIA will acquire Arm Limited from SBG and the SoftBank Vision Fund in a transaction valued at $40 billion. The combination brings together NVIDIA’s leading AI computing platform with Arm’s vast ecosystem to create the premier computing company for the age of artificial…
The founder and CEO of SoftBank Group Corporation, Masayoshi Son recently announced that he is stepping down from his board position at the Chinese e-commerce firm Alibaba. Announcing his decision, Son said that he’s “graduating” from his most successful investment by far. Son’s resignation comes just months after Alibaba Co-founder Jack Ma quit from SoftBank’s…
Chinese transportation company, DiDi recently announced that it has completed a $500mn fundraising round for its self-driving unit. The funding round was led by Masoyoshi Son-led SoftBank’s Vision Fund 2. The ride hailing giant said in a statement that the round marked the first time DiDi’s self-driving business had brought in external funding since it…
Layoffs have become a common phenomenon in these unprecedented times. The coronavirus has impacted several businesses, forcing them to resort to tough measures like cost cutting and downsizing. The recent company to fall in the crisis is shared office space startup, WeWork. Recently, WeWork India said that it has laid off nearly 20% of its…
Japanese multinational conglomerate SoftBank Group Corp recently announced that Alibaba Co-Founder Jack Ma will resign from its board. Jack Ma’s resignation is the latest high-profile departure by an ally of SoftBank CEO Masayoshi Son. Jack Ma resigned from the board as he is pulling back from formal business roles to focus solely on philanthropy. Earlier…
The hospitality sector is one of the most affected by the ongoing coronavirus pandemic. With travel of any kind coming to a halt and governments imposing lockdowns, companies in the sector are bracing for severe impact. Recently, there has been multiple reports about layoffs and furloughs in the industry by the companies to save cost.…
Michael Ronen, the U.S. Head of SoftBank Group’s $100 billion Vision Fund, is leaving after expressing concerns about “issues” at the technology conglomerate, as per a media report. In 2017, SoftBank Group launched the $100 billion SoftBank Vision Fund and recruited Ronen from Goldman Sachs. As per the report Ronen has been negotiating the terms…
It doesn’t seem that their troubles are getting over soon. In the past few months, OYO has managed to gather a different spotlight on itself with a New York Times report on its toxic work-culture, IT raids at their Gurugram headquarters and death of a sportsperson in one of their properties last year. Adding to troubles, came the firing of thousands of its employees from China and India business.
Tadashi Yanai, founder and chief executive officer (CEO) of Uniqlo’s parent Fast Retailing will resign as independent board member in December end after 18 years to focus on his fashion business. Yanai is one of only three external members of a board filled with SoftBank executives and heads of its portfolio companies. The resignation comes…