SoftBank overseas business chief exits in latest churn

Japan’s SoftBank Group Corp said on Wednesday it has appointed Alex Clavel as chief executive of its SoftBank Group International (SBGI) unit, replacing Michel Combes who leaves after just six months in the role.

SoftBank transformed the tech industry with big bets on late-stage startups but the conglomerate has turned over much of its executive team and has been forced to radically scale back investing activity through its Vision Fund as its portfolio slumps.

Clavel takes charge of a hodgepodge of assets including chip designer Arm, which SoftBank hopes to list, and stakes in satellite company OneWeb, telco T-Mobile US Inc and robotics firm Boston Dynamics.