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SoftBank books $65 million in retirement pay to founder's ex-heir apparent

Reuters

TOKYO (Reuters) - Japan's SoftBank Group (9984.T) booked $65 million in expenses arising from the resignation of Chief Operating Officer Nikesh Arora, bringing his total compensation over the last two years to about $300 million.

Arora, the former Google executive handpicked by SoftBank founder Masayoshi Son as his successor, resigned abruptly last month, just two years into his stint, as Son decided to stay longer.

The 6.8 billion yen expenses, revealed in SoftBank's quarterly financial statement on Thursday, comes in addition to 24.5 billion yen in compensation that the Japanese telecoms conglomerate has already paid to Arora.

Even before his resignation, some investors had contrasted Arora's pay unfavorably with the firm's overall weaker performance.

(Reporting by Yoshiyasu Shida; Editing by Ruth Pitchford)