Former SoftBank exec gets stunning severance package

It pays to be a member of the C-suite

Former SoftBank exec gets stunning severance package

SoftBank Group has paid its former COO an estimated $94 million after he departed from the Japanese multinational conglomerate holding company.

Marcelo Claure has secured severance pay totaling $47 million, Bloomberg reported, citing the company’s filing on Friday.

Claure is also getting tens of millions as part of the executive portion of an incentive program. He has a claim to 30% of the employee incentive award pool for the Vision Fund's Latin America fund, which could run through 2029, according to the report.

Read more: Leading by example: San Francisco firm co-founder encourages therapy, mental health days

Claure served as SoftBank Group’s COO from May 2018 to January 2022. During that time, he was also the CEO of SoftBank Group International. He also served as a member of the board of directors at the company from June 2017 to November 2020.

He also held leadership positions at Sprint for more than six years, including executive chairman (May 2018 to April 2020), member of the board of directors (January 2014 to April 2020) and president and CEO (August 2014 to May 2018).

Before that, Claure was CEO of SB Product Group from February 2014 to August 2014. He was also president, chairman and CEO of Brightstar from October 1997 to August 2014, and president of Small World Communications from 1996 to 1997.

Since April this year, Claure has been chairman and CEO at Claure Capital, a multi-billion-dollar global investment firm focused on public and private companies in technology, media, telecommunications, crypto, sports, real estate and other high-growth sectors, according to his LinkedIn account.

Recently, family-owned chocolate producer Mars Incorporated announced that its CEO Grant Reid is leaving the company at the end of the year.

Lattice, a people success platform, hired Cara Brennan Allamano, who has more than 20 years of human resources and leadership experience, as their first chief people officer. Meanwhile, Rossann Williams recently left her post as Starbucks’ North America president after more than 17 years of service for the company.

Also, Vince McMahon stepped down as World Wrestling Entertainment (WWE) CEO and chairman due to an investigation that he allegedly paid hush money to a former employee over an affair.

Indeed, a global hiring platform, announced that Priscilla Koranteng will join the company as chief people officer.

SkyShowtime – a new streaming service from Comcast and Paramount – also hired Richard Thurston as chief human resources officer to lead the HR team and support the leadership team in building an inclusive, thriving culture. The announcement comes just about a week since Zoom Video Communications, Inc. said Greg Tomb will join the company as president.

Previously, a report revealed that Goldman Sachs is looking to retake vested stock from executives Omer Ismail and David Stark, who left Goldman Sachs last year for companies that would be considered clients. The company is also pulling unvested compensation from the two, reported Bloomberg.

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