Google has had a series of recent top-level changes at its Cupertino, Calif.-based company. The newest is its chief business officer, who is heading to Japan to work for SoftBank.
Nikesh Arora is the latest in a number of executive changes at the search company. Arora was one of CEO Larry Page's right-hand men, serving as a key liaison between the tech firm and Wall Street.
According to recent reports (registration/fee required), Arora will join SoftBank as vice chairman and act as CEO of SoftBank Internet and Media. SoftBank is pushing ahead with big plans in the financial sector and it is also behind a financing package to help Sprint's acquisition of T-Mobile and their plan to jointly bid on spectrum in the next major Federal Communications Commission broadcast spectrum auction in 2015. SoftBank purchased a majority share in Sprint in July 2013.
A Google+ blog post from Larry Page was informative, yet a bit sentimental.
"I remember first meeting him at the British Museum, which for some reason Sergey had decided would be a good interview location," Page wrote in his post. "Nikesh has been a tremendous leader, adviser and mentor to many Googlers -- including me. We have learned a lot together, and had a lot of fun along the way."
"Omid Kordestani, who was our business founder and led our sales teams for many years, will be stepping in to lead our business organization for now," Page said. "He personifies the entrepreneurial spirit that is so important to Google. There is nothing Omid doesn't know about Google, our customers and partners, and I know that under his leadership the team will excel."
Google hasn't necessarily cracked the magic egg open for revenue from mobile ads yet, but the company is doing well, which investors are glad to hear. According to another source, Google's second-quarter sales grew by 22 percent over a year, which was higher than analysts expected from the company. That brought the company a solid growth of $16 billion, though actual profits weren't quite as high as expected. It did, however, increase 6 percent to $3.4 billion.
Google has been investing in a lot more than search technology and its ads platform. It has also invested in other technologies like robotics, health care and real estate. Its acquisitions in the past year are stunning with Boston Scientific, Songza and a number of others being added to the growing list of Google-owned companies. In fact, many of these technologies may incorporate (or already do incorporate) Google's flagship search technology.
Google's stock reportedly rose a percent yesterday. Google's Chief Financial Officer Patrick Pichette said he was happy with Google's performance, attributing the success to sales of YouTube video ads and Google Play store apps.