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John Wang
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Finance
February 5 21:24

Michael Ronen, Softbank's partner leaves over "issues"

Michael Ronen - the managing partner of SoftBank’s Vision Fund - is resigning. He has stated, that he is leaving because of certain “issues” with the company.
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Michael Ronen - the managing partner of SoftBank’s Vision Fund - is resigning. He has stated, that he is leaving because of certain “issues” with the company.

Michael Ronen, the managing partner of SoftBank’s Vision Fund is leaving. The exact nature of these issues remains unknown. Ronen himself, however, has clarified, that he has been in talks with the management for some time. He joined the Vision Fund back in 2017 to oversee and manage the investment in the logistics and transport startups.
Michael Ronen
Financial Times have also reported, that Ronen is not the only one of SoftBank’s leaders in talks about his position. According to their sources, the company’s vice chairman Ron Fisher is also discussing his future in the company. However, the representative of SoftBank has stated, that this information is false and that Fisher “is not going anywhere”.

The news come in the troublesome times for SoftBank. The company has made a number of questionable investments, the most problematic one being the funding of WeWork, which has been backed by Fisher. After the office-sharing company has entered the deep plunge, losing billions of US dollars in evaluation, SoftBank has provided a US9.5 billion bailout package. WeWork has undergone the process of restructuring and is now showing careful optimism about the expansion of its operations.