RESTON, Va. -- The Sprint Nextel Board of Directors has named wireless industry veteran Daniel R. Hesse, 54, as president and chief executive officer of the company, effective immediately. He previously was chairman, president and CEO of Embarq Corporation.

"Dan Hesse is the right person to lead our company," said board member Irvine O. Hockaday, Jr., who chaired the board's CEO search committee. "He is a proven leader with deep wireless experience as a chief executive and an established track record of generating strong operating performance. He has the board's full support to take decisive actions necessary to improve our performance."

"Sprint Nextel is a company with a strong set of assets, but clearly we must improve execution across the board," said James H. Hance, the company's non-executive chairman. "Dan's mandate is to hone our strategy, improve our ability to serve our customers and execute in the marketplace. I am convinced that under Dan's leadership we will deliver sustainable results and build shareholder value."

"Dan's record of achievement is impressive," Hance added. "He possesses marketing and innovation savvy along with considerable operating acumen. Under his leadership, AT&T Wireless became the nation's largest carrier at the time and grew revenues three times faster than the rate of the industry. The company earned awards for service and innovation, along with recognition for overall performance. At Embarq he has done an excellent job of leading the company through its inception, building its brand and delivering solid financial and operating results."

Sprint Corp. (NYSE: S)