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Chief business officer Nikesh Arora will become CEO of SoftBank Internet and Media as the Android maker misses on profits, but exceeds revenue expectations.

Google Biz Boss Leaves for SoftBank

Sarah Reedy
7/17/2014
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Google's chief business officer, Nikesh Arora, is leaving the company after 10 years to take a leadership role at SoftBank, the Android maker revealed on Thursday along with its second quarter earnings.

Arora will become the vice chairman of SoftBank Corp. , as well as the CEO of SoftBank Internet and Media. Omid Kordestani, who currently leads the Google (Nasdaq: GOOG) sales team, will take over the business organization. (See MWC 2011: SoftBank CEO Bets on the Mobile Web.)

"Thank you googlers for your support and love in the last 10 years," Arora Tweeted. "Will miss all of you. Looking forward to the next adventure."

For the second quarter, Google reported earnings of $6.08 per share on revenue of $12.7 billion, missing Wall Street expectations of earnings of $6.28 per share, but surpassing revenue estimates of $12.32 billion. The company's stock slipped 8.993 basis points, or 1.5%, to $573.73, at the release of its earnings report.

— Sarah Reedy, Senior Editor, Light Reading

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SReedy
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SReedy,
User Rank: Blogger
7/21/2014 | 10:37:00 AM
T-Mobile tie
it's also worth noting that before Google, Nikesh was at Deutsche Telekom, T-Mobile's parent company, so that could be another motivator for Softbank to hire him...
kq4ym
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kq4ym,
User Rank: Light Sabre
7/18/2014 | 9:44:57 AM
Re: $$$
It would be interesting to run the analytics of all the execs bailing from Google and see if there's something behind the curtain. Leaving for better opportunities and pay/benefits are the norm, but I wonder if this is what's going on at Google?
Kruz
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Kruz,
User Rank: Light Sabre
7/18/2014 | 9:17:21 AM
Re: $$$
Based on what you are saying, it seems strange to me that this is happening in parallel with earnings falling short on profit.
Ray@LR
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Ray@LR,
User Rank: Blogger
7/18/2014 | 7:15:57 AM
Re: $$$
But is he happy?

Oh...
SReedy
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SReedy,
User Rank: Blogger
7/17/2014 | 5:06:50 PM
$$$
Recode points out that Arora was Google's highest-paid exec in 2012, earnings $51 million, including an $8 million cash bonus he'd have to forfeit if he left before 2015. An SEC filing says that requirement is being waived. Lucky guy. Must be a sweet gig at Softbank too.

 
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