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Elon Musk joins the growing chorus fearing a U.S. recession. But there are stocks for that.
- June 22, 10:11 PM
A whole bunch of Wall Street banks and Tesla's Elon Musk are saying a recession is coming.
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SoftBank Appoints Alex Clavel as CEO of SoftBank Group International
- Today, 11:43 AM
Michel Combes to Step Down After Five Years at SoftBank Clavel Brings Years of Global SoftBank Experience to the Role TOKYO-Wednesday 22 June 2022 [ AETOS Wire ] (BUSINESS WIRE) -- SoftBank Group Corp. (“SoftBank”) today announced that Alex Clavel, currently Managing Partner at SoftBank Group International (“SBGI”), has been appointed as Chief Executive Officer of SBGI, effective June 30, 2022. Mr. Clavel will succeed Michel Combes, who has decided to leave SoftBank to pursue new opportunities. Mr. Clavel will bring seven years of leadership experience at SoftBank across Tokyo, Silicon Valley and New York to the role, in which he will oversee SBGI’s operations and investment portfolio, including its stakes in Boston Dynamics, SoFi, Fortress, T-Mobile, Arm, among other portfolio companies. Together with the SoftBank Vision Funds, SBGI is responsible for all SoftBank Group Corp. activities outside of Japan, including across Europe, the U.S., Asia and Latin America. Masayoshi Son, Representative Director, Corporate Officer, Chairman & CEO of SoftBank Group Corp., said, “Building on more than two decades of experience in corporate development and investing, Alex has long been a trusted leader at SoftBank in multiple locations around the globe. I am confident that his experience – combined with the strong SoftBank team around him – will serve us well as we continue our journey as Vision Capitalists.” Mr. Son continued, “I want to thank Michel for his crucial contributions to SoftBank over the past five years. He has played a critical role in some of our most important investments and assets, and I wish him all the best with his future plans. I’m glad he will remain part of the SoftBank family by continuing to represent us on various portfolio company boards.” Mr. Clavel commented, “I am honored by the trust Masa has placed in me to lead SBGI and am fortunate to have worked alongside Michel. I am excited to build on our success and for what’s to come.” Mr. Combes said, “It has been a pleasure to work with Masa and the talented teams across SoftBank. I am departing SoftBank proud of having achieved what I set out to do here, including turning around Sprint and executing its merger with T-Mobile, repositioning WeWork and successfully taking it public, and, most recently, the integration of the SoftBank Latin America Funds into the Vision Fund, as well as overseeing SoftBank’s strategic investments in French and European portfolio companies. I am pleased to pass the baton to Alex. He has been my partner for the past two years and I am confident he’s well positioned to lead the team and carry forward our success into the future.” Alex Clavel Biographical Information Most recently, Mr. Clavel has been responsible for managing several of SoftBank’s international platform of investments outside of the Vision Funds, including T-Mobile, Deutsche Telecom, WeWork and OneWeb. He serves as a director on the boards of numerous companies and investment vehicles, including Arm China, Boston Dynamics, InMobi, SB Energy, Goggo, and Levere Holdings Corp. Mr. Clavel joined SoftBank in Tokyo in 2015 and worked in SoftBank’s Silicon Valley office before moving to New York with SoftBank in 2018. Prior to joining SoftBank, Mr. Clavel spent 19 years at Morgan Stanley in investment banking, where he focused on technology, media and telecom M&A. He graduated from Princeton University and speaks French, Japanese and Mandarin Chinese. About SoftBank Group The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world. The SoftBank Group is comprised of SoftBank Group Corp. (TOKYO: 9984), an investment holding company that includes stakes in telecommunications, internet services, AI, smart robotics, IoT and clean energy technology providers; the SoftBank Vision Funds, which are investing more than US$140 billion to help extraordinary entrepreneurs transform industries and shape new ones; the US$8 billion SoftBank Latin America Funds; and investments in underrepresented founders, including the SB Opportunity Fund, a US$100+ million fund investing in Black, Latinx and Native American founders, and SoftBank Investment Advisers’ global Emerge program. To learn more, please visit https://group.softbank/en. View source version on businesswire.com: https://www.businesswire.com/news/home/20220621006036/en/ Contacts Japan: firstname.lastname@example.org +81 3 6889 2300 United States: FGS Global Benjamin Spicehandler / Hannah Dunning SoftBank-SVC@sardverb.com
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