Arm rejigs boardroom as it prepares to go public

Two new board members and a new CFO have been announced

Arm has made a flurry of new boardroom appointments and hired a new CFO as it prepares for a potential public listing.

Japanese owner Softbank has been preparing to take the British chip maker public after plans to sell the company to Nvidia fell through due to "significant regulatory challenges".

Ahead of the planned move, Arm has announced two new board members - Karen Dykstra and Jeff Sine.

Dykstra was the former chief financial and administrative officer of AOL while Sine is the co-founder and partner of Raine Group.

Both will sit on the Arm board with immediate effect.

Arm CEO Rene Haas said: "I extend a warm welcome to Karen and Jeff, both exceptional business leaders who will bring a depth and breadth of experience to the Arm Board."

The chip maker also confirmed that Jason Child will join Arm as its new CFO.

Child most recently served as senior vice president and CFO at Splunk from 2019.

Prior to this, he held multiple CFO positions including at Groupon.

Haas said Child has "extensive experience in financial management at public companies and IPO execution".

He added: "I look forward to working with him as part of the Arm leadership team as we continue to define the future of computing, built on Arm."

Child will take over the CFO role from Inder Singh on November 2.

Singh will remain at Arm in an advisory role and assist in the transition through November before moving to a new opportunity.

Haas said: "I'd like to thank Inder for his contributions and leadership over these past few years. He has helped the company navigate many changes since joining in 2019, including building a strong organisation with upgraded systems and processes in the finance, IT and cybersecurity teams. We wish him all the best moving forward."

Softbank has indicated plans to take the company public on the NASDAQ exchange in New York instead of London.

In May, it was reported former PM Boris Johnson wrote to SoftBank while ministers and executives from the London Stock Exchange would try and persuade them to rethink.

But, according to the Financial Times, talks broke down in the summer following the departure of Johnson.

However, the publication states the Government will now push for high-level talks with SoftBank executives following the end of the official period of mourning for the Queen.