ARM CEO Simon Segars, Sprint CEO Marcelo Claure Join SoftBank Board Of Directors

(RTTNews) - ARM Holdings plc's (ARM.L, ARMH) CEO Simon Segars and Sprint Corp. (S) President and CEO Marcelo Claure have been formally elected to the Board of Directors of SoftBank Group Corp., (SFTBF.PK), a technology player led by Chairman and CEO Masayoshi Son.

In separate statements, the companies said the elections were formally approved at SBG's 37th Annual General Meeting of Shareholders held Wednesday in Tokyo.

ARM stated that SoftBank earlier announced new board candidates to strengthen corporate governance and accelerate growth. Segars' appointment comes following SoftBank's historic 2016 acquisition of ARM for $32 billion.

Joining Claure and Segars as new Directors are Rajeev Misra, CEO of SoftBank Investment Advisors; Mark Schwartz, Senior Director of Goldman, Sachs & Co.; and Yasir O. Al-Rumayyan, Managing Director and Board Member of the Public Investment Fund of the Kingdom of Saudi Arabia.