People walk past a retail shop of the SoftBank telecommunications company in Tokyo, Japan, May 10, 2016.Reuters file

SoftBank has appointed Ken Miyauchi, currently the head of the group's Japanese telecommunications operations, as the president and chief operating officer (COO) to replace Nilesh Arora who quit on Tuesday.

The company informed the development in a media statement on a day when it had scheduled its 36th annual general meeting. 

"In response to Nikesh Arora, who had served as Representative director, president & COO, resigning from the Board at the closing of the 36th Annual General Meeting of Shareholders held today as announced in 'Change of Representative Director (Resignation)' dated June 21, 2016, SBG has elected Ken Miyauchi as Representative director, president & COO of SBG in pursuit of enhancement of the management structure. Miyauchi currently serves as Director of SBG and also as President & CEO of SoftBank Corp," it said in the statement.

Masayoshi Son will continue to remain the chairman and chief executive officer of SoftBank.

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