Nikesh Arora, who has been frequently in the news since he joined Softbank in 2014 has resigned from Japan’s third-largest telecom service provider and one of the marquee investors in companies around the globe.
The move comes as a shocker because Nikesh Arora was handpicked successor of Masayoshi Son, the Founder & Chief Executive of Softbank. Infact, Mr. Son had publicly announced that he will be handing over the reigns of Softbank to Nikesh Arora when he retires at age of 60, two years from now.
However, it seems that Mr. Son has decided to continue to be helm for few more years – In a statement to Wall Street Journal, Mr. Son said, “I was thinking of handing over my job as CEO when I turn 60, but thought maybe I’m still a bit too young, and still have energy to continue,”
It seems this decision is what prompted Nikesh Arora to step down. However, Nikesh will still remain as an adviser to Softbank.
Nikesh has been one of the highest paid executives in the world and had raked in $135 million in 2014 and $73 million in 2015. He had himself invested a large chunk of money (around $483 million) in Softbank, and will sell all his shares back to Son at a small loss!
With people across the globe being very surprised with the move and various rumours flying thick and fast, Nikesh took to twitter to clarify various things. Here are some of the tweets that give you an insight into why Nikesh quit.
Masa 2 continue 2 be CEO for 5-10 years, respect that. Learnt a lot. Clean chit from board after through review. Time for me to move on.
— Nikesh Arora (@nikesharora) June 21, 2016
:). Life doesn’t need to be orderly my friend. It’s about having fun everyday. https://t.co/sskfQyYJCf
— Nikesh Arora (@nikesharora) June 21, 2016
Plan to support them for an year, hence continuing as advisor. https://t.co/JBtSiFdSvJ
— Nikesh Arora (@nikesharora) June 21, 2016
Going to continue to support the Indian startup ecosystem….can’t change faith if you change jobs :)! https://t.co/ILIlS6qdcp
— Nikesh Arora (@nikesharora) June 21, 2016
All good. Masa wanted to be CEO for longer, I did as promised, time to move on. https://t.co/cQsgTe1Ig6
— Nikesh Arora (@nikesharora) June 21, 2016
Not at all. Love the Indian startup scene. https://t.co/GIPR4MFeuW
— Nikesh Arora (@nikesharora) June 21, 2016
I love YJ! Miyasaka San is great, and I am always there whenever he needs me. https://t.co/jbjCVXWPdo
— Nikesh Arora (@nikesharora) June 21, 2016
Masa and I are still in love with each other. I will support everyone I invested in, and they know that. https://t.co/g3QAAC1jbo
— Nikesh Arora (@nikesharora) June 21, 2016
Hmm… This way I don’t get reinterpreted when I tell the truth. https://t.co/xZvEQOSmZ0
— Nikesh Arora (@nikesharora) June 21, 2016
Lol. Not true. It’s a small loss…. https://t.co/nD1EkhXSVl
— Nikesh Arora (@nikesharora) June 21, 2016
Like every individual has a different future, so does every company. https://t.co/6tRDRo31Nz
— Nikesh Arora (@nikesharora) June 21, 2016
Surprises happen if you get wedded to outcomes and get set in your expectations. https://t.co/Tsb1Vh7oP6
— Nikesh Arora (@nikesharora) June 21, 2016
He and I love each other. Leading is a drug, a positive influence, a raison d’etre. U need to be ready to leave… https://t.co/xcdUWCbTgF
— Nikesh Arora (@nikesharora) June 21, 2016
:). Hey you follow your conviction….and your discipline. It’s easier to keep sitting than get up! https://t.co/2Uo8Ltqidq
— Nikesh Arora (@nikesharora) June 21, 2016
The nature of investing is wins and losses, as long as wins overweight losses you win. Can’t regret the loss.. https://t.co/5O7KPUfHZP
— Nikesh Arora (@nikesharora) June 21, 2016
Am going to support every investment of Softbank :) .So they wouldnt feel the difference. https://t.co/QzRUnbmbI0
— Nikesh Arora (@nikesharora) June 21, 2016
Good Q. Always do things with all my energy & passion so yes, hence not a clean break. Want to support and nurture . https://t.co/QJUyJ6dsZs
— Nikesh Arora (@nikesharora) June 21, 2016
