SoftBank strategy chief Katsunori Sago to step down

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 where he was one of “Seven Samurai” who engineered a more aggressive investing approach, took the newly created strategy job at SoftBank in 2018.

The departure of one of CEO Masayoshi Son’s key lieutenants comes after power consolidated around Vision Fund chief Rajeev Misra and Chief Operating Officer Marcelo Claure, and as SoftBank invests in public companies under rising star Akshay Naheta.

Sago “played a crucial part in expanding SBG’s potential as an investment company,” Son said in a statement, which did not provide a reason for the departure.

Last year, following investor pressure to improve oversight at the group, SoftBank removed several high-profile executives from the board, including Sago, Misra and Claure.

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

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.