Masayoshi Son has told shareholders that SoftBank will not prioritise short-term trading gains as the company behind the world’s most aggressive technology fund was grilled over governance failures after the collapses of Greensill and Katerra. 

At an annual shareholder meeting on Wednesday, the 63-year-old billionaire founder defended the Japanese conglomerate’s governance structure, saying the board was not “Masayoshi Son’s one-man show”. 

“I personally feel that we should pay extra attention to governance,” Son said during the 90-minute online event. “We plan to manage our investments in line with compliance and other rules so that the focus is not on pursuing short-term benefits using financial engineering techniques.”  Following approval at the annual meeting, SoftBank’s nine-member board added five non-executive directors, of which four are considered independent.

SoftBank’s Masayoshi Son grilled by investors over governance lapses | Financial Times