What you need to know
- Simon Segars has stepped down as CEO of Arm in the aftermath of NVIDIA's acquisition of the company falling through.
- SoftBank confirmed that the planned $40 billion purchase had been terminated following "significant regulatory challenges."
- Rene Haas will take over as CEO of the company and will serve on Arm's board of directors.
Following the failed purchase of Arm by NVIDIA, Arm has announced a new CEO. Simon Segars has stepped down as chief executive officer and member of the board of directors of Arm. He will be succeeded by Rene Haas, who will serve as CEO and on the company's board of directors. Arm confirmed the move on February 8, 2022.
Haas has been in the semiconductor industry for 35 years, and the head of SoftBank believes Haas is ready to take over.
"Rene is the right leader to accelerate Arm's growth as the company starts making preparations to re-enter the public markets," said Representative Director, Corporate Officer, Chairman & CEO of SoftBank Group Corp Masayoshi Son. "I would like to thank Simon [Segars] for his leadership, contributions and dedication to Arm over the past 30 years."
Haas mentioned moving beyond the "uncertainty of the past several months," likely referencing NVIDIA's efforts to clear its acquisition of Arm with regulators:
The CEO switch came on the same morning that SoftBank announced that NVIDIA would no longer acquire Arm. That proposed purchase met heavy scrutiny from tech giants and faced multiple regulatory hurdles by the FTC in the U.S., the UK government, and the European Union.
NVIDIA and SoftBank decided to terminate the deal due to " significant regulatory challenges." SoftBank is already preparing to publicly list Arm.
During the transition to Haas entering his new roles, Segars will serve in an advisory role for Arm.
Sean Endicott is the news writer for Windows Central. If it runs Windows, is made by Microsoft, or has anything to do with either, he's on it. Sean's been with Windows Central since 2017 and is also our resident app expert. If you have a news tip or an app to review, hit him up at firstname.lastname@example.org.
Thank God, the Nvidia acquisition of ARM has been terminated. What a massive relief.
So, what happens now? A consortium of; Intel, Microsoft, Samsung, Qualcomm, and yes, NVIDIA, will be formed to purchase controlling interest in the ARM IPO.
This consortium will then control the direction of ARM, which will be traded on the London Stock Exchange. This has happened before, and is the most likely outcome.
"This has happened before, and is the most likely outcome."
Please can you share a link?
That's unfortunately the lesser of two evils. As the other option is having Nvidia solely control ARM. People need to be both realistic and pragmatic. Unless, Millions of ordinary folk start buying ARM shares or Millionaires start buying ARM shares. the other final option is Billionaires buying controlling interest. Realistically, all that's left is a consortium with a controlling interest.
Now we want to see more arm on pcs
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