Softbank’s Vision Fund chief executive officer Rajeev Misra has found himself with a new position in hand – Executive Vice-President of the Board of Directors, which makes him a serious contender among the top-level executives who stand to succeed the company’s founder, Maayoshi Son, once he steps down from the role.
Misra, 56, who had joined the company in 2014, has had an illustrious career in international financial companies such as Merrill Lynch, Deutsche Bank, UBS Group, Fortress Investment Group.
A report by Financial Times states that Misra’s appointment as Executive Vice-President is subject to the approval of the company’s shareholders and Board of Directors, which will be decided at the Annual General Meeting that is to be held on 20 June.
Till then, the company has said that Mishra will continue to serve as CEO of SoftBank Investment Advisers, a role he assumed in 2016.
Background
Born in Bhoisahi in Balasore town of Odisha, Misra is an alumnus of Indian Institute of Technology, Delhi and has a Master’s degree in Computer Science from the University of Pennsylvania and an MBA from the Sloan School of Management.
His professional career began in 1985, when he joined Los Alamos National Laboratory. Following a long stint of varying positions at companies like Merrill Lynch, Deutsche Bank, UBS Group AG and Fortress Investment Group LLC, Misra joined Softbank in November 2014 as the Head of Strategic Finance for the Group.
In 2016, he was appointed as the CEO of a $93billion investment fund called Softbank Vision Fund.
According to the report, which refers to Softbank’s official notice on its site, Misra’s compensation is slated to be a rough $11.2 million, including cash and stock.
The package is said to be lower than the high profile package received by Nikesh Arora, who was reportedly in line to be Son’s successor till June 2016, but who had later stepped down from the position following a row among SoftBank’s shareholders.
Other than Misra, two others have been promoted to executive posts in the company as well. Marcelo Claure and former Goldman Sachs executive Katsunori Sago, will join as the Chief Operating Officer and Chief Strategy Officer of the board, as well.
(With inputs from Financial Express.)
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