Decline in Shareholder Support for SoftBank CEO Masayoshi Son to 79%

Shareholder support for the reappointment of SoftBank Group Chief Executive Masayoshi Son has dropped significantly, from 95.93% last year to 79.22%, according to a stock market filing on Tuesday. This decline follows a recommendation from proxy advisor Institutional Shareholder Services (ISS) against Son’s reappointment.

ISS Recommendation and Reasons

ISS opposed Son’s reappointment due to the tech investment group’s financial performance, specifically citing an average return on equity of less than 5% over the past five years. SoftBank had previously disclosed this recommendation in a press release in June.

Support for Other Directors

Support for other directors at SoftBank also showed mixed results. Shareholder backing for external director Kenneth Siegel, for instance, remained relatively low at 68.46%, a slight increase from 66.9% the previous year. Siegel, the managing partner of the law firm Morrison Foerster in Tokyo, has been involved in some of SoftBank’s most notable deals.

The decline in support for Son reflects growing shareholder concerns about the company’s financial performance and governance.

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