Sprint says CFO to leave in new executive shake-up
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Sprint Nextel Corp  said on  Thursday Chief Financial Officer Paul Saleh and two other top  executives would leave the company in a new management shake-up  as the No. 3 U.S. mobile service grapples with subscriber  declines.
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Sprint Nextel's new chief executive, industry veteran Daniel R. Hesse, may bring serious change to the struggling wireless carrier, saying he will reevaluate its controversial high-speed Internet strategy and consider moving the company's headquarters from Reston.
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The head of Microsoft&#39;s mobile phone group is jumping ship, moving to U.K. mobile operator Vodafone Group to run its Internet services.Pieter Knook will join Vodafone on March 10, where he will lead a new unit delivering consumer Internet services, Vodafone said Thursday.Vodafone&#39;s announcement comes in the wake of press reports that Microsoft will reshuffle its executive team later Thursday.Knook&#39;s replacement as head of Microsoft&#39;s mobile communications business is likely to be Andrew Lees, currently with the company&#39;s server and tools group, according to a report on the Web site of The Wall Street Journal on Wednesday night, which cited a person familiar with the situation. Both Knook and Lees are Microsoft veterans, working with the company since 1990.Microsoft announced another change in its mobile business on Wednesday, with the acquisition of mobile device maker Danger, marking its first move into the manufacture of mobile phones. Until now, it has left the hardware to other companies, licensing its mobile operating system to them.There will be other staff changes at Microsoft, with three other vice presidents expected to leave in the coming months, the WSJ report said. It named Michael Sievert, currently in charge of Windows marketing, and Steve Berkowitz, a manager of the company&#39;s online business, as among those who will leave.Vodafone said Knook&#39;s arrival will allow it to move forward with its &quot;Mobile Plus&quot; strategy to generate new revenue streams such as mobile advertising, and integrated mobile and PC offerings.Microsoft representatives could not be immediately reached for comment.
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After it announcing it would move all voice calls off Nextel's iDEN network, Sprint now appears to be doing just the opposite.
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The chief executive of Jarvis, the embattled engineering and construction firm, resigns.
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The chief exec of SCO will leave once it reorganizes through a deal with Stephen Norris & Co. Capital Partners.
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Wireless carrier Sprint Nextel Corp   plans to lay off several thousand employees, the Wall  Street Journal reported on Monday.
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Starbucks Corp  on Monday  said its chief executive, Jim Donald, is leaving the company,  effective immediately.
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Communications giant Telstra Corp announced yesterday that its chief executive Ziggy Switkowski would step down early as Australia&#39;s largest corporation prepared for its full privatization.
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Wireless carrier Sprint Nextel Corp. on Tuesday said it named its president and chief executive, Gary D. Forsee, to serve as chairman.
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Sprint Corp. (FON.N: Quote, Profile, Research) on Friday said it plans to cut up to 700 jobs as it realigns its business to focus on wireless and Internet services and takes a non-cash network impairment charge.
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NEW YORK 07:30 EST - It&#39;s official. Sprint and Nextel is becoming &quot;Sprint Nextel&quot; in what is being described this morning by both companies as a &quot;merger of equals.
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Tough times continue at Sprint Nextel, as the company said Thursday that three of its top executives are on their way out.CFO Paul Saleh, Chief Marketing Officer (CMO) Tim Kelly, and President of Sales and Distribution Mark Angelino will leave the company on Friday, according to Sprint Nextel. It wasn&#39;t clear if the executives were leaving voluntarily or were being let go, and company spokeswoman Leigh Horner said in an e-mail that Sprint Nextel isn&#39;t &quot;commenting further or characterizing the nature of these departures.&quot;In a press statement, Sprint Nextel President and CEO Dan Hesse thanked the three for their &quot;dedication and contributions&quot; to the company, and wished them luck in future endeavors.Sprint Nextel is looking to replace the departing executives permanently, but in the meantime their duties are being handled by existing executives.William G. Arendt, currently senior vice president and controller of Sprint Nextel, will serve as acting CFO, while John Garcia, currently senior vice president, product development and management, will serve as acting CMO. Paget Alves, currently Sprint Nextel&#39;s regional president for sales and distribution, will serve as acting president, sales and distribution. All of these executives will report directly to Hesse.The news of the executive shake-up follows the announcement last week that&#160;Sprint would be laying off 4,000 employees and the close 125 of its 1,400 retail outlets&#160;due to the net loss of more than 100,000 customers in the fourth quarter of 2007. At the end of the year, Sprint said it had 53.8 million subscribers, including 40.8 million customers of its traditional post-paid service.The company plans to announce its full fourth-quarter results on Feb. 28.While Sprint struggles, rival carrier&#160;AT&amp;T seems to be doing better, thanks to its partnership as the&#160;exclusive service provider for Apple&#39;s iPhone&#160;device. AT&amp;T&#39;s revenue was up 2.9 percent in the fourth quarter of 2007, largely driven by increases in mobile phone and broadband customers, the company announced Thursday.AT&amp;T saw a net gain of 2.7 million mobile subscribers during the quarter, and most of them came to the company through its iPhone partnership, the company said. Apple said Tuesday it sold 2.3 million iPhones during the quarter.
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Sprint Nextel said it will stop running separate corporate headquarters in Kansas and Virginia and will consolidate them into one location in Overland Park, Kan.
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First it was the CEO, and now the CFO has left, too. What should shareholders be thinking?
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Sprint Corp. appears to be on the verge of the boldest move of CEO Gary Forsee&#39;s 18-month tenure: A $36 billion merger with rival wireless company Nextel Communications Inc.
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U.S. mobile operator Sprint Nextel has appointed Dan Hesse as president and CEO. He replaces Gary Forsee, who resigned in October.