SoftBank's Rajeev Misra steps down as corporate officer

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.