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SoftBank exec and key Son ally stepped down from their roles after losses ascend at the Japanese firm

SoftBank exec and key Son ally stepped down from their roles

September 01, 2022: -A top executive at SoftBank and a key ally of CEO Masayoshi Son, known as Rajeev Misra, came down from two roles at the Japanese investment firm after it recorded losses, the company said Wednesday.

Misra will relinquish his corporate officer and executive vice president roles at the SoftBank Group, effective on Wednesday.

He will be CEO of SoftBank Investment Advisers, the entity responsible for the $100 billion Vision Fund, taking high-profile bets on companies which include Uber and Chinese ride-hailing giant DiDi.

The move comes just after Misra left his role as CEO of SoftBank Global Advisors, which manages the second Vision Fund, Vision Fund 2. Misra is making his external multi-asset investment fund.

Misra was critical in setting up the original Vision Fund in 2017, which turned SoftBank into one of the most prominent tech investors in the world. It has made investments across the globe, from the U.S. to China.

But the investment strategies of Softbank have come under fire after a string of unusual bets, like WeWork, and a recent rout in technology stocks has battered the fund’s performance.

Certainly, SoftBank’s Vision Fund posted a record loss of 3.5 trillion Japanese yen for its financial year finished on March 31.

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