SoftBank Group Corp said on Wednesday Rajeev Misra is stepping down as corporate officer and executive vice president at the group, further loosening ties with the executive after he ceded a frontline role managing the second Vision Fund.
The move comes after SoftBank this month reported a loss of $50 billion at the Vision Fund investment arm in the six months to end-June, with Chief Executive Masayoshi Son pledging to cut back investment activity and reduce costs.
Misra, who is setting up an external multi-asset fund, Reuters reported previously, retains his role overseeing the first $100 billion Vision Fund.