Sprint (S) CEO Forsee Out, Q3 A Stinker
Forsee, whose imminent departure was reported last week, will be temporarily replaced by CFO Paul Saleh. Board member James Hance, Jr. will take over as non-executive chairman.
Sprint (S) also said it expects to report a Q3 net loss of 337,000 "post-paid" subscribers -- high-value customers who sign contracts and pay monthly bills -- and that 2007 revenue and and operating income will miss guidance. Sprint will report Q3 results on Nov. 1. The no. 3 wireless carrier has struggled since acquiring Nextel for $35 billion in 2004.
Related: Sprint Shopping For A New CEO
1 Comment
Marford
said:
Oct. 08, 7:13 PM
Any chance of the Verizon - Sprint rumors that were circulating last week? Sprint is such a bigger entity than Verizon and to be honest it still seems they haven't gotten the Nextel deal to work yet, but in my opinion Sprint just seems to be going downhill. And they do have shared corporate ties to at least open up negotiations http://www.newsvisual.com/newsvisual/2007/10/sprint-and-veri.html . Any chance of this happening, or ever happening?
Marford
said:
Oct. 08, 7:13 PM
Any chance of the Verizon - Sprint rumors that were circulating last week? Sprint is such a bigger entity than Verizon and to be honest it still seems they haven't gotten the Nextel deal to work yet, but in my opinion Sprint just seems to be going downhill. And they do have shared corporate ties to at least open up negotiations http://www.newsvisual.com/newsvisual/2007/10/sprint-and-veri.html . Any chance of this happening, or ever happening?
