Sprint Nextel's New BroomSprint Nextel's New Broom
CFO, CMO, and others leave a month after new CEO takes the helm
January 24, 2008
Only five weeks after taking the CEO role at Sprint Corp. (NYSE: S), Dan Hesse has decided to replace three of his senior management team. (See Embarq CEO Resigns to Run Sprint.)
The Reston, Va.-based CDMA and WiMax operator announced today that a trio of senior executives –- chief financial officer Paul Saleh, chief marketing officer Tim Kelly, and the president of sales and distribution, Mark Angelino -- will leave the company this Friday. (See Sprint CFO & Others to Leave.)
Sprint didn't give any reason for the executive departures. The company has appointed temporary fill-ins for the executives and is looking for permanent replacements.
William Arendt, currently senior vice president and controller, will serve as acting CFO. John Garcia, currently senior vice president of product development and management, will serve as acting chief marketing officer. Paget Alves, currently regional president for sales and distribution, will serve as acting president of sales and distribution.
"Permanent leaders will be named in conjunction with a review of overall strategy and an effort to streamline operations," says Hesse in the carrier's statement. "I have no predetermined timeframe in filling these positions but plan to act as quickly as possible as I consider both internal and external candidates."
Hesse joined Sprint in December 2007 with a mandate to take "decisive actions" to improve the operator's performance, following the ousting of previous chief Gary Forsee in October. Hesse joined from Sprint spinoff Embarq Corp. (NYSE: EQ). (See Sprint Appoints New CEO.)
The top-line departures come just a week after Sprint announced it will axe 4,000 jobs this year in a bid to cut up to $800 million off its annual costs after a string of disappointing quarterly results. (See Sprint to Cut 4,000 Jobs.)
— Dan Jones, Site Editor, Unstrung
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