Arm, a chip design company under SoftBank Group, announced the appointment of Jason Child as a chief financial officer (CFO).
Child will join Arm on November 2, 2022, leading the company's global finance and IT organization, reporting to the company's Chief Executive Officer (CEO) Rene Haas. He will succeed current Chief Financial Officer Inder Singh, who will continue to serve in an advisory role at Arm.
Haas said Jason is a seasoned global financial and technology leader whose extensive experience in public company financial management and IPO execution will be invaluable in preparing for a potential public offering.
It is reported that SoftBank Group acquired Arm for $32 billion in 2016, which was the largest acquisition ever made by SoftBank at the time.
On September 13, 2020, SoftBank Group announced that it will sell Arm to Nvidia in a transaction valued at $40 billion. However, the deal ultimately fell through due to significant regulatory challenges and opposition from rivals.
Arm's appointment of a new CFO comes as the company prepares to go public. The company's IPO plans come after a failed sale to Nvidia earlier this year.
In June of this year, people familiar with the matter revealed that SoftBank intends to make Arm listed in the United Kingdom and the United States at the same time. But in July this year, foreign media reported that due to the turmoil in the British government, SoftBank suspended plans to list Arm in London and may consider listing only in the United States.
0 Comments