SoftBank Group announced Michel Combes (pictured) will step down as head of its international unit less than five months after taking over the role from Marcelo Claure, who was also COO of the Japan-based company.
Alex Clavel, managing partner of SoftBank Group International (SBGI), will replace Combes on 30 June.
In a statement, SoftBank Group noted Clavel held leadership positions in Tokyo, Silicon Valley and New York. As CEO he will oversee SBGI’s operations and Vision Fund portfolio, which has stakes in engineering outfit Boston Dynamics, online finance company SoFi, Fortress Investment Group, T-Mobile US and Arm.
Combes was president of SBGI since June 2020 and was CEO of Sprint before a merger with T-Mobile.
His departure is another high-profile exit from SoftBank’s investment arm, following Claure resigning in January reportedly over compensation, and two of three partners at its Latin America fund leaving in April to start a competing venture.
The company’s troubled Vision Fund registered a JPY3.5 trillion ($25.7 billion) loss in its fiscal Q4 (ending 31 March), resulting in a loss of JPY2.1 trillion for the group.Subscribe to our daily newsletter Back