Latest news with #succession
Yahoo
a day ago
- Business
- Yahoo
Masayoshi Son Hints at Succession Plan While Chasing AI Ambition
(Bloomberg) -- Masayoshi Son acknowledged the outlines of a succession plan, addressing what may be the single biggest concern among investors, and name-checked the head of SoftBank Group Corp.'s telecom unit Junichi Miyakawa. Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares US Renters Face Storm of Rising Costs Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Mapping the Architectural History of New York's Chinatown US State Budget Wounds Intensify From Trump, DOGE Policy Shifts Son said he plans to hold SoftBank's reins another ten years, but added he has several candidates for its next chief in mind from within the Japanese technology group, speaking during a general shareholders' meeting in Tokyo on Friday. The candidates work alongside the billionaire every day, although he hasn't disclosed who they are to anyone, the 67-year-old said. While saying that he is healthy and intends to lead, Son added, 'If I should become a barrier to growth, SoftBank should move to its next phase.' He then listed Miyakawa — who is now in charge of rolling out AI infrastructure within Japan — as someone who's doing 'an extremely solid job.' 'I feel very pleased, encouraged and reassured by his efforts,' he said. 'As a result, I have almost never felt the need to interfere in what he does. I trust him.' SoftBank's shares rose as much as 3.2% after his comments, buoyed by a broader rally that boosted the Nikkei Stock Average. Past lieutenants who have been officially or unofficially in the running to be Son's successor have included Nikesh Arora, Marcelo Claure and Katsunori Sago. All have left SoftBank. Son added, however, that he is passionate enough to work tirelessly for the next ten years to realize an era where artificial intelligence is pervasive in society. SoftBank's ability to finance big bets resides in part on fervent support from Japanese retail investors, who in the past have been quick to snatch up the tech investor's bonds. Many voiced their fear about what would happen to the technology group without its charismatic founder. One shareholder even asked if AI would either extend Son's lifespan or make it possible for Son to somehow remotely control the company from beyond the grave. Son responded by saying that while he intends to use AI 'more than anyone,' he didn't see it replacing him. The annual shareholders' meeting has long been a platform for Son to share his vision of a future of tech-driven progress. Many shareholders have hung onto his words and their shares from before the dot-com boom and bust. Son said he's now cornered key artificial intelligence chip architecture, part of an ambition to become the world's top platform in an age in which AI surpasses human abilities — or what he and other AI proponents call artificial super-intelligence. 'We want to become the world's top platformer for ASI,' he said, adding that it'll be a winner-take-all arena. SoftBank controls chip designer Arm Holdings Plc and plans to invest as much as $30 billion in ChatGPT maker OpenAI. 'These are indispensable for ASI,' he said, noting also that SoftBank has acquired Graphcore Ltd. and has plans to buy Ampere Computing LLC. 'I'm all in.' One of Son's big ambitions includes a partnership with Taiwan Semiconductor Manufacturing Co. to build a large AI manufacturing hub in Arizona, Bloomberg reported earlier. --With assistance from Mark Anderson. (Updates with executive comments and share reaction from the second paragraph.) How to Steal a House America's Top Consumer-Sentiment Economist Is Worried Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Apple Test-Drives Big-Screen Movie Strategy With F1 Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags ©2025 Bloomberg L.P. Sign in to access your portfolio
News.com.au
4 days ago
- Entertainment
- News.com.au
Home rules royal kids have to abide by
Prince George will face a huge change in royal tradition when he celebrates his 12th birthday this year. The heir to the British throne will no longer be able to fly on the same aircraft as his father, Prince William. This strict rule is designed to protect the royal family's future line of succession, in the event of a tragedy occurring. The royal protocol may also affect Princess Charlotte and Prince Louis, who may no longer fly with their older brother due to their positions in the line of succession. George is currently second-in-line to the British throne, behind Prince William. Charlotte, 10, and Louis, seven, are next in the line of succession. Since they were born, George, Charlotte and Louis had to abide by some strict rules. No Monopoly According to The Telegraph, Prince Andrew couldn't play iconic board game Monopoly. 'We're not allowed to play Monopoly at home. It gets too vicious,' the Duke York said back in 2008. Playing Outside The Independent reports Kate and William encourage their children to play outside, apparently in either rain or shine. 'There will be lots and lots of outdoor play. … Lots of bike rides, playing with their dogs, potentially some gardening…,' Louise Heren, the author of Nanny in a Book, said. 'Yes, you are getting mucky with your hands in the soil, but you are learning how to plant. 'If it is tipping it down, they will still go out.' No baby food or Shellfish Perhaps unsurprisingly, a strict set of dietary guidelines applies to the children. These rules ban pre-packaged and baby foods as they have private chefs. The kids follow the same dietary restriction as adults: no shellfish. It's due to shellfish being the easiest food to get sick from and which they aim to avoid whenever possible. No Electronic Toys Prince William and Princess Kate apparently don't allow their kids to play with any electronic toys. The couple prefer their children to participate in activities and avoid them having tablets, iPads. Their own table at Christmas lunch The royal children spend Christmas with the rest of their family at Sandringham. But, they have their own room for lunch. Can't open presents on Christmas Day The royal children do not participate in opening presents on Christmas Day, as they exchange all gifts on Christmas Eve and go to church on Christmas. This tradition, introduced by Prince Albert, also involves the children adding the 'finishing touches to the 20ft Christmas tree in the White Drawing Room' on Christmas Eve. 'On Christmas Eve, The Royal Family lay out their presents on trestle tables and will exchange their gifts at teatime,' the Royal Family website stated.
Forbes
4 days ago
- Business
- Forbes
'You're Not Ready': The Quiet Crisis Of CEO Succession
Older employee looking out of office window. Logan Roy, brutal patriarch of Succession, delivers one of the show's most revealing lines without blinking: 'I love you. But you are not serious people.' It's more than a takedown. It's a generational indictment. A founder who won't let go. A next generation unsure if they're trusted to lead. That dynamic isn't just a popular TV plotline. It plays out inside real boardrooms, family enterprises and executive teams. The CEO successor is named but sidelined. The current leader still takes the big decisions. The person next in line is visible but not empowered. The plan exists, but the trust behind it is fragile. Most CEOs, founders and boards don't ignore succession. But they often treat it as something to finalize later. The Illusion Of Time In a conversation with a board and CEO, I was told their succession strategy was solid. The business was performing well. The future CEO had been identified. There was 'plenty of time.' So I asked: 'If your CEO stepped down tomorrow, who could step in—credibly?' There was a pause. Then a quiet recognition. While a successor had been named, they had not been exposed to the board. They had not led through volatility. They had not owned the story externally. My next question was even simpler: 'Is the board aligned on that person's readiness?' The answer: 'Not entirely.' That hesitation isn't rare. It's an early signal that belief has not yet become readiness. The candidate is identified but not yet fully seen. The CEO Clock Is Ticking Double-time The quiet urgency is already visible in the top seat. In Q1 2025 alone, 646 U.S. CEOs left their roles — a record high. According to Spencer Stuart, CEO tenure among the S&P 500 has declined– from 11.2 in 2021 to 8.3 years in 2024. The leadership cycle is shortening. The window to prepare is shrinking. And in many boardrooms, the successor still isn't visible. In fact, interim leadership has soared in 2025. Of all incoming CEOs this year, 18% of them were named on an interim basis, compared to 6% during the same period last year. What departs with a CEO isn't just decision rights. It's strategic memory, investor trust, unspoken influence and the instincts shaped by years of complex calls. From the outside, the transition may look smooth. Inside, momentum has already begun to drift. Consider a familiar scenario: a CEO announces their retirement two years out. A successor is named. But over those two years, that successor is kept adjacent—invited to sit in, but not to lead. They don't build board relationships. They aren't tested with external investors. The team doesn't look to them when pressure hits. When the handoff comes, they are still a mystery to the people who matter most. Now contrast that with a company like Microsoft. Before Satya Nadella became CEO, he had led multiple business units, shifted internal mindsets around cloud, and earned deep trust inside and outside the organization. He wasn't just selected. He was prepared. The board wasn't surprised. The team wasn't skeptical. The culture didn't pause. One organization hoped succession would work. The other ensured it would. In my conversation with Piyush Gupta, ex-CEO of Singapore-based DBS Bank, he reflected on how much of his own leadership readiness came from being placed in tough, often uncomfortable roles early on—across geographies, away from familiar systems, in moments of high stakes. Those crucibles didn't just build experience. They built identity. He said it was in those formative tests that he learned to make sense of ambiguity, lead without defaulting to control, and develop judgment under pressure. That kind of preparation isn't theoretical. It's earned. And it starts long before the title ever changes. Gupta also aced his own succession. When he announced his departure, he named his successor in the same breath—Tan Su Shan, a longtime internal leader, would step into the role. No drama. No scramble. Just clarity, stability, and a transition that matched the precision of the institution he helped build. Four Shifts Boards And CEOs Must Make Now I've worked on CEO succession with public companies, founder-led firms and family businesses. The ones who handle it well don't view it as an HR process. They treat it as a cultural investment—something that reveals the organization's capacity to learn, evolve and trust. Succession doesn't begin at resignation. It begins when a CEO chooses to shape what comes next. Some CEOs delay because they still feel useful. But often, their most lasting influence happens in the final chapter—as teacher, mentor or transition partner. Not from obligation. From conviction. Reengaging the outgoing CEO in a purposeful handoff builds credibility. It creates space without leaving a void. It protects the legacy while empowering the future. Mentoring a CEO successor is unlike any other leadership relationship. It requires confrontation with complexity—activist pressure, investor expectations, media scrutiny, internal dissent. Successors don't need guidance alone. They need access. They need to be pushed, heard, contradicted and invited into the spaces where presence matters most. A name on a board deck does not equal a ready successor. Many boards assume that a strong internal leader can step up. But readiness doesn't come from potential alone. It comes from repeated exposure to risk, to contradiction, to conflicting expectations—and the maturity to navigate them. Real stakes reveal themselves in breakthrough moments. Investor briefings. Board negotiations. External crises. Not rehearsed behind closed doors—but tested in the open. Authority isn't proven in simulation. It's forged in the marketplace. On the global stage. In lived, not scripted, experience. The CEO role isn't granted. It's demonstrated in advance. The real handoff is already underway. It happens in how the current CEO frames tradeoffs. In who they bring into key conversations. In how often they explain why a decision was made—not just what the decision was. Culture doesn't replicate by instruction. It transmits through observation. Boards should look for the signals that successors are being shaped early. Not through formal grooming, but through informal inclusion. What CEO Legacy Actually Means Most CEOs eventually ask: what will I leave behind? But legacy isn't what follows you. It's what endures without you. It's the strategic clarity that remains intact. The team that doesn't stall. The confidence that continues when your name is no longer the one in headlines. In the strongest transitions I've seen, the outgoing CEO doesn't just vacate. They clear the way. The successor doesn't wait to be told they are ready. They act like it. Because they were trusted with the work that matters. Because someone showed them the horizon early. Because the board aligned not on safety, but on strength. And when succession is handled well, no one needs to say 'You are serious people.' The successor already proves it.
Yahoo
4 days ago
- Business
- Yahoo
T-Mobile CEO pushes back on report he would leave the role early
T-Mobile (TMUS) CEO Mike Sievert says he isn't going anywhere yet. German news publication Handelsblatt reported earlier this month that Sievert, who also sits on the board of coffee giant Starbucks (SBUX), was eyeing an exit before his contract is up in April 2028. "Well, I haven't made any decisions about that, and I hope that's the case," Sievert told Yahoo Finance when asked if he would still be leading the telecom behemoth a year from now (video above). T-Mobile recently appointed telecom industry veteran Srini Gopalan as COO, fueling speculation on Sievert's timeline as CEO. Gopalan had been a member of T-Mobile's board for four years. Sievert added, "We did recruit Srini with the idea of succession planning in mind, and I would tell you that any business should be thinking about these things. That's not bad news. That's good news. You know, every big move I make in the people arena is about making sure that the secret sauce of this company is here for the long run and will outlive any of us." However, the hire doesn't reflect any decision by Sievert about stepping away, he added. Sievert took over as CEO from the highly energetic T-Mobile frontman John Legere in April 2020. He has led not only the successful integration of Sprint, which T-Mobile purchased for $23 billion in 2020, but also a reinvention of the business and a steady stream of better-than-expected quarters. T-Mobile spent $1.35 billion to acquire Ryan Reynolds' Mint Mobile in May 2024, giving the company access to more value-conscious phone plan shoppers. The company has also closed deals for fiber-optic plays Metronet ($4.9 billion), US Cellular ($4.4 billion), and Lumos ($950 million). It said late Monday it would begin its service with Elon Musk's Starlink satellite business on July 23, helping to close dead zones for cell service in the country. Shares of T-Mobile are up about 176% under Sievert's watch, compared to a 25% gain for AT&T. Verizon is down by 19% during that same timespan. Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
T-Mobile CEO pushes back on report he would leave the role early
T-Mobile (TMUS) CEO Mike Sievert says he isn't going anywhere yet. German news publication Handelsblatt reported earlier this month that Sievert, who also sits on the board of coffee giant Starbucks (SBUX), was eyeing an exit before his contract is up in April 2028. "Well, I haven't made any decisions about that, and I hope that's the case," Sievert told Yahoo Finance when asked if he would still be leading the telecom behemoth a year from now (video above). T-Mobile recently appointed telecom industry veteran Srini Gopalan as COO, fueling speculation on Sievert's timeline as CEO. Gopalan had been a member of T-Mobile's board for four years. Sievert added, "We did recruit Srini with the idea of succession planning in mind, and I would tell you that any business should be thinking about these things. That's not bad news. That's good news. You know, every big move I make in the people arena is about making sure that the secret sauce of this company is here for the long run and will outlive any of us." However, the hire doesn't reflect any decision by Sievert about stepping away, he added. Sievert took over as CEO from the highly energetic T-Mobile frontman John Legere in April 2020. He has led not only the successful integration of Sprint, which T-Mobile purchased for $23 billion in 2020, but also a reinvention of the business and a steady stream of better-than-expected quarters. T-Mobile spent $1.35 billion to acquire Ryan Reynolds' Mint Mobile in May 2024, giving the company access to more value-conscious phone plan shoppers. The company has also closed deals for fiber-optic plays Metronet ($4.9 billion), US Cellular ($4.4 billion), and Lumos ($950 million). It said late Monday it would begin its service with Elon Musk's Starlink satellite business on July 23, helping to close dead zones for cell service in the country. Shares of T-Mobile are up about 176% under Sievert's watch, compared to a 25% gain for AT&T. Verizon is down by 19% during that same timespan. Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Sign in to access your portfolio
