Marcelo Chlor leaves SoftBank after a long dispute with his son

Marcelo Klor, CEO of SoftBank, which led to a turnaround in the troubled WeWork office-sharing group, has become the oldest person to leave the Japanese technology conglomerate after dealing with its founder, Masayoshi Son.

Two people with direct knowledge of the matter said the Bolivian billionaire, who headed SoftBank’s $ 5 billion investment fund in Latin America, was leaving after a pay dispute over the group’s strategic direction.

His departure could be announced immediately on Thursday, although that moment may slip away next week as both sides determine the terms of his exit package. People said the deal to leave Chlor was expected to be worth “hundreds of millions of dollars”.

SoftBank and a Claure spokesman declined to comment.

The departure will further focus on the falling share price of SoftBank and the crisis of leadership in the company under its powerful founder, Son. Chlor’s departure will also heighten concerns about “key man risk” among SoftBank investors, who are worried that 64-year-old Son has failed to identify a successor if suddenly needed.

SoftBank founder Masayoshi Son.

SoftBank founder Masayoshi Son. Investors are concerned about the group’s future leadership © Kiyoshi Ota / Bloomberg

Shares of SoftBank fell 56% after its peak last March, falling sharply in recent days as technology-focused stocks sold out globally.

French telecommunications chief Michel Comb will take over Chlor’s responsibilities for overseeing SoftBank’s Latin American funds, its Opportunity Fund and several non-Japanese portfolio companies, an informed source said.

Claure was hired by SoftBank through the acquisition of its telecommunications startup Brightstar and quickly made her way into Son’s inner circle, first serving as CEO of the American mobile group Sprint and later organizing the group’s rescue and revival. WeWork office work.

During his tenure, Claure has repeatedly clashed with other SoftBank executives, including the head of its private investment arm, Rajiev Misra, a former Deutsche Bank merchant.

Chlora was one of three CEOs, along with Misra, who were considered possible successors to Son. The other CEO, former Goldman Sachs banker Katsunori Sago, left SoftBank’s strategic director last year in less than three years. Sago’s departure was preceded by the departure of the company’s Chief Compliance Officer, Chief Legal Officer and Chief Communications Officer.

Most recently, Claure focused on building SoftBank’s investment in Latin America after being placed at the helm of a $ 5 billion fund.

The New York Times reported last month that as part of its exit talks, Claire had demanded a payout of up to $ 2 billion for her involvement in the WeWork turnaround and the sale of US telecoms group Sprint to rival T-Mobile.

Bloomberg said on Thursday that Cloer was in preliminary talks to leave SoftBank and had demanded up to $ 1 billion in compensation.

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