Nikesh Arora, paid Rs 500 crore per year, quits SoftBank

Nikesh Arora on Tuesday announced his decision to step down as President from Japan-based Softbank Group Corporation. The former Google executive to step down from his role comes less than two years from the time he became part of the Japanese firm.

Nikesh Arora will resign from his position as President in the month of July. In recent times, rumors were floating off him being made the next CEO of SoftBank. But CEO Masayoshi Son has insisted that he would like to continue his current role in the company for the coming 5 to 10 years.

The CEO believes that he cannot keep Arora waiting for this position for that long. But the Tuesday announcement comes just after allegations were made on Nikesh Arora by some disgruntled shareholders. These claims were rejected by an internal SoftBank panel who believed that all complaints were untrue for the man.

Nikesh Arora took to his social networking site Twitter to announce his decision about leaving the company. He posted, “Masa 2 continue 2 be CEO for 5-10 years, respect that. Learned a lot. Clean chit from board after thorough review. Time for me to move on.”

Even though he did not directly say what his next stint is going to be but on his Twitter account, he also stated that he will continue to play the role of an advisor in the company for a year and in coming time will continue to support the Indian startup ecosystem.

Between September 2014 and March 2015, Nikesh Arora was the third highest paid executive in the world earning around $135 million. Last year he took a $480 million personal stake in SoftBank.

The Japanese technology giant is under massive debts recently it has announced to sell its stake in mobile game maker Supercell to Tencent, a Chinese company.


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