Arm CEO to Join SoftBank’s Board as Landmark IPO Approaches

SoftBank Group Corp. has nominated Arm Ltd. Chief Executive Officer Rene Haas to its board, underscoring the British chip designer’s importance ahead of its highly anticipated initial public offering.

The Japanese company will put Haas up for election at its shareholders’ meeting on June 21, replacing outgoing director and Z Holdings Corp. chairperson Kentaro Kawabe. All eight other existing directors will continue to serve, SoftBank said in a statement.

Rene Haas

Photographer: David Paul Morris/Bloomberg

The move puts Arm front-and-center in SoftBank’s portfolio at a time Masayoshi Son’s company is struggling with crumbling valuations across its more internet-oriented investments, from Alibaba ...