SoftBank Corp says it is investigating a shareholder campaign that sought the ouster of former Google executive Nikesh Arora, who had been groomed to lead the Japanese technology company.
SoftBank Corp says it is investigating a shareholder campaign that sought the ouster of former Google executive Nikesh Arora, who had been groomed to lead the Japanese technology company.
Arora, who joined SoftBank as president from Google in 2014, had been expected to succeed Son as head of the company. But in 2016, SoftBank founder and Chief Executive
Masayoshi Son said Arora was leaving. Son remained at the helm.
The Wall Street Journal reported this week that some shareholders had conducted a smear campaign to discredit and oust Arora.
SoftBank confirmed today a committee of its board of directors was investigating but declined further comment.
Earlier, SoftBank said an investigation into allegations against Arora that were raised in letters from a law firm claiming to represent shareholders found no wrongdoing.
Earlier it was reported that SoftBank Group Corp’s Vision Fund will invest in a solar power generation company in Saudi Arabia, creating the world’s biggest solar producer, as it steps up its involvement in the kingdom, its chief executive said on Tuesday.
The project is expected to have the capacity to produce up to 200 gigawatts (GW) by 2030, Softbank’s CEO Masayoshi Son told reporters in New York. That would add to around 400 GW of globally installed power capacity and is comparable to the world’s total nuclear power capacity of around 390 GW as of the end of 2016.
The initial phase of the project for 7.2 GW of solar capacity will cost $5 billion, with $1 billion coming from Softbank’s Vision Fund and the rest from project financing, Son said.
The final investment total for the 200 GW of generation, including the solar panels, battery storage and a manufacturing facility for panels in Saudi Arabia, will eventually total around $200 billion, he said.
(With inputs from agencies)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "SoftBank investigates shareholder campaign to oust executive")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}