SoftBank says Son lieutenant Ron Fisher, Arm CEO to leave board

TOKYO: SoftBank Group Corp on Friday said Chief Executive Masayoshi Son’s longtime lieutenant Ron Fisher and the CEO of chip designer Arm, Simon Segars, will step down from the Japanese conglomerate’s board.

The changes are the latest churn on the board as Son focuses on technology investing through his Vision Fund unit over taking majority stakes in companies.

Fisher was an architect of SoftBank’s disastrous bet on office space firm WeWork, while Segars’ firm is to be sold to U.S. chip firm Nvidia Corp pending regulatory approval.

Fisher’s decision to step down was his own, a SoftBank spokeswoman said without providing further details.