Japan’s SoftBank Group on Friday announced the departure of its chief operating officer, Marcelo Claure, after reports of a clash over pay between Claure and the company’s founder and CEO Masayoshi Son.
Claure’s deputy Michel Combes will take over from him as the CEO of SoftBank Group International, however, no replacement COO was named by the company.
According to the report, Claure—who has been credited with helping turn around Sprint Mobile and WeWork—sought as much as $1 billion in compensation from Son, significantly higher than his current annual pay of ¥1.8 billion ($16 million).
Claure reportedly also pushed Son to spin off the company’s Latin American investment fund—which was overseen by him—arguing that it would help build the business while also boosting his pay.
The technology and investment giant’s stock rose about 2.2% in Tokyo on Friday, but it is still down more than 50% from its peak last year.