India-born Nikesh Arora is new SoftBank president

Wednesday 24th June 2015 07:33 EDT

India-born former Google executive Nikesh Arora has been appointed the president of Japan's telecommunications giant SoftBank Corp. Arora, 47, who earlier held the vice-president's post, was appointed company president and chief operating officer at a general meeting of shareholders. In a management reshuffle last month, Arora - then investments head - was named as a potential successor to company chairman and CEO Masayoshi Son, as the telecoms conglomerate steps up its overseas expansion. Arora joined the Japanese company last September. He was previously chief business officer of Google Inc, which he joined in 2004 as a telecom industry analyst before being recruited by Son. Hailed by Son as a `rising star', Arora received 16.556 billion yen (nearly $135 million) for the period through March, 2015. Of the total, 14.6 billion yen was paid as an entering bonus and compensation for his work as an executive at a SoftBank subsidiary. Unlike elsewhere in the world, there are few business executives in Japan who are paid billions of yen a year and rare for a Japanese company to pay more than 16 billion yen annually to an executive, a report said.

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