SoftBank strategy chief Sago to leave

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

SoftBank Group’s chief strategy officer, Katsunori Sago, will resign at the end of March, the company said on Friday.

Sago, a Goldman Sachs alumnus and former chief investment officer of Japan Post Bank Co, took the strategy job in 2018 and was viewed as a possible successor to Chief Executive Masayoshi Son.

In a company statement Son credited Sago for helping to drive SoftBank’s growth as an investment company, though no reason was given for his resignation.

SoftBank Group last month reported that third-quarter net profit ballooned more than 20 times thanks to recovery at its Vision Fund.

Last year, after pressure to improve oversight at the group, it removed several high-profile executives from the board, including Sago, Vision Fund chief Rajeev Misra and Chief Operating Officer Marcelo Claure.

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