Mobile phone company Vodafone K.K. selected Softbank Corp. President Masayoshi Son as its new president at an extraordinary shareholders’ meeting Friday.
Vodafone shareholders also approved six Softbank executives, including Son, as board directors of the company.
Softbank, a leading Internet and financial services firm, recently purchased Vodafone K.K. from Britain’s Vodafone Group PLC.
Softbank currently holds a 99.5 percent stake in the Japanese firm.
With the Softbank-led management, Vodafone intends to devise more competitive services and price scales in an effort to catch up with the two front-runners in the business, NTT DoCoMo Inc. and KDDI Corp.
Among Softbank officials joining the Vodafone board, director Ken Miyauchi is already acting as senior executive vice president at the mobile phone carrier.
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