SoftBank CEO: ‘I’ll Be More Careful’
SoftBank’s boss has recently been under increased pressure to rein in on his unpredictable investment style and risky choices.
Masayoshi Son, CEO at SoftBank Group Corp, has assured investors he will be “more careful” moving forward, and will tone down on the mercurial investment style he is so well-known for.
Following recent pressure from hedge fund management Elliott Management, Masayoshi Son, CEO at SoftBank Group Corp, has reassured investors that on the back of poor start-up investments such as WeWork, he will be more careful when it comes to investment choices.
Elliot Management has been pressuring Softbank management to buy back up to $20 billion of its stock and has been requesting that the firm improve its governance of diversity and transparency within the board and beyond.
According to three separate sources who attended an internal meeting on Monday, Son says he has not been giving enough weight to the opinions of investors and board members when it comes to investment choices, but will be more careful: “I promise you I’ll start to be more careful and listen. My view doesn’t change, but my behaviour becomes a little more careful.”
“My view doesn’t change, but my behaviour becomes a little more careful.”
Son also emphasized the low stock trading values currently available on SoftBank stock, particularly when compared to the firm’s overall asset value, encouraging investors to buy in.