SoftBank Partner Saurabh Jalan, Who Sits on WeWork Board, Exits
Jalan is on the board of WeWork, the co-working company that counts SoftBank as its largest shareholder.
(Bloomberg) -- Saurabh Jalan, an investing partner at a SoftBank Group Corp. subsidiary, has left the company.
Jalan, who joined the Japanese conglomerate in 2015, is on the board of WeWork Inc., the co-working company that counts SoftBank as its largest shareholder. SoftBank plans to appoint another director to the WeWork board in coming weeks.
A SoftBank spokesman said Jalan departed SoftBank Group International to pursue other opportunities, and declined to comment further.
The company last month appointed an executive committee to oversee its second Vision Fund, Latin America funds and future vehicles following a decision by Rajeev Misra, who oversees its first Vision Fund, to step back from some responsibilities in order to establish a new firm, One Investment Management.
SoftBank’s Vision Fund arm, which started laying off employees in recent months, posted a $7.2 billion quarterly loss last week, driven by the declining value of portfolio companies such as SenseTime Group Inc., DoorDash Inc. and GoTo Group. Masayoshi Son is on the hook for about $4.7 billion on side deals he set up to boost his compensation, amid mounting losses in the company’s tech portfolio.
Read more: SoftBank Sinks 12% After Loss and No New Buyback Program
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