×
860
Fashion Jobs
HUGO BOSS
Buyer Emea
Permanent · London
ESTÉE LAUDER
Aveda - Omni National Account & Operations Executive
Permanent · London
ESTÉE LAUDER
Demand Planner - Supply Chain
Permanent · London
ESTÉE LAUDER
Director, International Business Development (Maternity Cover)
Permanent · London
PAUL SMITH
International Sales Executive
Permanent · LONDON
EASTPAK
Sales Manager
Permanent · LONDON
NEW BALANCE
Category Merchandising Manager Emea, Running Footwear
Permanent · Warrington
CONFIDENTIEL
Warehouse Area Manager
Permanent ·
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Liverpool - 26 Hours - Part Time, Permanent
Permanent · Liverpool
ESTÉE LAUDER
Clinique - Consultant - Boots-Aintree, Liverpool - 11 Hours - Part Time, Permanent
Permanent · Liverpool
ESTÉE LAUDER
Clinique - Consultant - Fenwick, Newcastle - 12 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTÉE LAUDER
Clinique - Consultant - Boots, Bishops Stortford - 7.5 Hours - Part-Time - Permanent
Permanent · Bishop's Stortford
ESTÉE LAUDER
Clinique - Consultant - Boots, st Davids Cardiff - 37.5 Hours - Full Time, Permanent
Permanent · Cardiff
ESTÉE LAUDER
Clinique - Consultant - Boots, Oracle Reading - 28 Hours - Part Time, Permanent
Permanent · Reading
ESTÉE LAUDER
Clinique - Consultant - Flannels, Sheffield Meadowhall - 22.5 Hours - Part Time, Permanent
Permanent · Sheffield
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Cribbs Causeway - 37.5 Hours - Full Time, Permanent
Permanent · Bristol
ESTÉE LAUDER
Clinique - Consultant - Boots, st Davids Cardiff - 30 Hours - Full Time, Permanent
Permanent · Cardiff
ESTÉE LAUDER
Art Director
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Fenwick, Bracknell - 11.5 Hours - Part Time, Permanent
Permanent · Bracknell
ESTÉE LAUDER
CRM And Email Analyst (Contract) - Must be Immediately Available
Permanent · London
ESTÉE LAUDER
Senior Art Director
Permanent · London
ESTÉE LAUDER
CRM Analyst
Permanent · London
By
Reuters API
Published
Dec 28, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Uniqlo founder Yanai resigns as SoftBank board member after 18 years

By
Reuters API
Published
Dec 28, 2019

Japan’s SoftBank Group Corp said Tadashi Yanai, founder and CEO of Uniqlo parent Fast Retailing, will resign as independent board member at the end of the month after 18 years on the job to focus on his fashion business.


Photo: Reuters

 
A longtime ally and sometime critic of SoftBank founder and CEO Masayoshi Son, the billionaire is one of only three external members of a board filled with SoftBank executives and heads of its portfolio companies.
 
The resignation comes at a time when SoftBank is battling with the fallout from the failed IPO of WeWork, with Son saying he misjudged co-founder Adam Neumann’s character and pledging to strengthen corporate governance at the group’s investments.

However, experts are critical of SoftBank’s governance, saying it has few truly independent voices that can question Son’s judgement.
 
“They have low governance standards,” said Nicholas Benes of The Board Director Training Institute of Japan, a non-profit focused on corporate governance training.
 
“If they don’t require higher standards of themselves, it might be hard to require them of investee companies,” he said in an interview last month.
 
Son in November defended the board’s rigour after reporting the group’s first quarterly loss in 14 years, saying that Yanai was among the board members who excoriated him for the WeWork investment.
 
“Almost all the board members gave me a hard time. I ended up being very exhausted,” he said.
 
Yanai, Japan’s richest man, along with Son, are among a handful of Japanese founder-CEOs who are also household names.
 
Yanai was known for being willing to voice his dissent at some of Son’s decisions.
 
His successor has not been decided, a SoftBank spokeswoman said.
 
SoftBank lost one of its most outspoken voices when another outside director, Shigenobu Nagamori, founder and CEO of Nidec Corp, stepped down two years ago.
 
The other independent directors currently on SoftBank’s board are Masami Iijima, chairman of trading house Mitsui & Co, and professor Yutaka Matsuo from the University of Tokyo, a highly renowned artificial intelligence expert with little corporate experience.
 
Both Yanai and Son have made and then shelved plans to hand over the reins of their companies in the past, with 70-year-old Yanai previously saying he would retire at 65.
 
Yanai has said he does not want either of his two sons to take over as CEO, but both were promoted and joined the ranks of company directors last year.
 
Possible successors named by media have included finance chief Takeshi Okazaki and Pan Ning, the head of Uniqlo’s China operations, as well as Maki Akaida, head of Uniqlo’s Japan operations.
 

© Thomson Reuters 2021 All rights reserved.