RESTON, Va. -- Sprint Nextel Corp.’s (NYSE: S) Board of Directors today named President and Chief Executive Officer Gary D. Forsee to serve as the company’s Chairman. Forsee replaces Tim Donahue, who retires as Executive Chairman at the end of this month.

“As Sprint Nextel moves forward, we are pleased that Gary Forsee will now lead the board," said Irvine O. Hockaday, chairman of the Nominating and Corporate Governance Committee, and lead independent director. "Sprint Nextel has the assets, brands and strategic direction in place, and we are confident under Gary's leadership that the company’s goals will be realized."

“On behalf of the entire board and all the employees we want to thank Tim Donahue for his invaluable and inspiring leadership, and we wish him well in his retirement,” said Hockaday.

Forsee has served as president and chief executive officer of Sprint Nextel since the company’s merger in August 2005, and before that served as CEO and chairman of Sprint, starting in March and May 2003, respectively. Forsee is a 34-year veteran of the telecommunications industry.

In addition, Sprint Nextel announced the appointment of Sprint Nextel board director Robert R. Bennett to chair the Finance Committee and serve on the Audit Committee.

Sprint Corp. (NYSE: S)