SoftBank COO, Vision Fund head leave board as part of firm's restructuring

SoftBank Group Corp said four of its current directors will leave the board in an effort to increase the proportion of outside directors and improve corporate governance.

Marcelo Claure, chief operating officer; Rajeev Misra, head of the Vision Fund; and Katsunori Sago, chief strategy officer, will step down from the board as part of the restructuring. Yasir O. Al-Rumayyan, who represented Saudi Arabia’s Public Investment Fund, will also leave the board. SoftBank founder Masayoshi Son said the changes are aimed at separating management and operations at the Japanese conglomerate, which is increasingly focusing on investments rather than managing its own companies.