Japan telecom giant SoftBank is shaking up its executive ranks in a move that will see its founder and long-time chairman Masayoshi Son vacate his chairman position.

SoftBank announced that current president and CEO Ken Miyauchi will relinquish those titles and replace Son as chairman of its board of directors. Son will remain on SoftBank’s board. Miyauchi, in turn, will be replaced by current CTO and director Junichi Miyakawa.

The changes, which are set to take place on April 1, are part of a push by the SoftBank board to hit financial goals. The company noted in a statement that it “believes that to achieve sustainable growth as a listed company, it needs to make changes to management at appropriate times and pass on the strengths of its current management system to future generations.”

Miyauchi’s ascension was noted as having begun two years ago, with “serious deliberation” having started last year. Miyakawa’s appointment was attached to his “deep knowledge of cutting-edge technologies” and past work in integrating SoftBank’s acquisitions.

Miyakawa also spent time as technical chief operating officer at Sprint where he was brought in as an attempt by Son to jumpstart the U.S. carrier’s struggling network overhaul plans. The results of those efforts were mixed at best as Sprint was unable to find the funds needed to turn around its network and eventually pleaded to be acquired by T-Mobile US.

The moves come as the Japanese telecom market is in the midst of 5G deployments and is dealing with a new nationwide competitor in upstart Rakuten.

The executive change comes one year after T-Mobile US closed on its $26 billion purchase of Sprint from SoftBank, which brought to a close a long-running soap opera over Sprint’s future. SoftBank had initially acquired a controlling stake in Sprint in 2012, backed by a boastful attempt by Son to expand his reach into the U.S. market.

However, a shortage of funding prevented Sprint from continuing as a forceful competitor to larger rivals Verizon and AT&T, and was quickly overtaken by one-time smaller rival T-Mobile US.

Son has also been busy overseeing SoftBank’s $100 billion Vision Fund investment arm, which has seen its share of fluctuating results, and SoftBank’s recent $40 billion sale of Arm Holdings to Nvidia.