Leader of Sprint spinoff returns to fill its CEO vacancy
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The head of a lucrative local phone venture conceived with Sprint's blessing, who once topped the ranks of AT&T, is returning to the fold to lead Sprint out of the roughest patch in its short history.
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Sprint Nextel has decided to consolidate its two headquarters, eliminating a relic of the merger of Sprint and Nextel Communications in 2005.After that deal closed, the new company set up its corporate headquarters in Reston, Virginia, which had been the home of Nextel, and established an operational base in Sprint&#39;s home of Overland Park, Kansas. Now it will have just one main office, in Overland Park.The move was widely anticipated as a new CEO, Dan Hesse, took over the troubled operator. Consolidating the networks and corporate cultures of Sprint and Nextel has proved harder than merging them financially, and it has weighed down a company that has enough problems already, according to industry analysts. Sprint is losing subscribers and struggling to distinguish itself as the number-three player in the U.S. behind AT&amp;T Wireless and Verizon Wireless. It is close to a limited launch of its WiMax mobile broadband network but is unlikely to reach its WiMax coverage goal by the end of this year, an executive said Wednesday at the Mobile World Congress in Barcelona.Since Hesse took the helm in December, the company&#39;s top financial, marketing and sales executives have left, and it has announced plans to lay off 4,000 employees.Consolidating management in Overland Park will cut travel costs, bring executives closer to the company&#39;s operations and make better use of Sprint&#39;s real estate assets, according to a company statement. The move will require relocation of only a small number of executives, and Sprint will continue to have &quot;a very significant employee presence in Reston,&quot; the company said. Sprint has about 4,400 employees in the Washington, D.C., region and about 13,300 in the Kansas City, Missouri, area, where Overland Park is located.Sprint traces its roots to the Brown Telephone Co., founded in Abilene, Kansas, in 1899, according to the company&#39;s Web site.
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Sara Lee Corp.  on Thursday said it would spin off or sell businesses representing 40 percent of its revenue and promoted President Brenda Barnes to chief executive as it tries to jump-start sluggish profits.
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When Gary D. Forsee took over as chief executive of Sprint Corp. 20 months ago, the phone company was reeling from the telecom bust, burdened by debt and grappling with bigger
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Sprint Nextel Corp  on Tuesday named former Embarq Corp  Chief Executive Dan Hesse as its president and CEO, effective immediately.
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Sprint Nextel Corp. on Tuesday named Dan Hesse, the chief executive officer of wireline company Embarq Corp., as its new chief executive officer, effective immediately.
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F-Secure's former chief operating officerÂ is returning to the Finnish security vendor to become chief executive officer after working for 18 months at Nokia.
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Motorola Inc. MOT.N on Wednesday said  its No. 2 officer, who had been passed over for the chief  executive post, will resign at the end of January to seek a top  spot with another company.
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Sprint Nextel Corp  Chief Financial Officer Paul Saleh and two other senior executives are leaving the company in a new management shake-up, as the No. 3 U.S. mobile service grapples with subscriber losses.
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More than two years after the acquisition that formed Sprint Nextel Corp., the nation's third-largest wireless provider is about 80 percent done with weaving the two sides together, the company's chief executive officer said Wednesday.
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Sprint Nextel Corp  on Tuesday  named the head of Embarq Corp , its fixed-line spin-off,  as its chief executive, hoping the telecom industry veteran can  turn the No. 3 U.S. mobile service provider around.
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The rumors are true: Sprint Nextel will form the No. 3 wireless company.
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Arun Sarin, the chief executive of Vodafone, moved to grab more day-to-day control of the world&#39;s biggest mobile phone company yesterday by announcing a management shake-up which
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The cellular telephone industry&#39;s game of musical chairs has started again, and the music may soon stop with one less chair. Nextel Communications is in advanced talks to merge with Sprint, according to executives involved in the negotiations.
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Rod Thorn, who built the New Jersey Nets into National Basketball Association contenders, will return as president and CEO.
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Blog: Sprint announces the Sprint Mogul by HTC smart phone running Windows Mobile 6.
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Freescale Semiconductor Chairman and CEO Michel Mayer will leave his posts as soon as a replacement is found, the company said Friday.&quot;The time is right for me and my family to take some time off before exploring new challenges. The company is well positioned to continue its transformation,&quot; Mayer said in a statement.Freescale officials didn&#39;t respond to requests for comment.Mayer led the company when it spun off from Motorola&#39;s semiconductor group and went public in 2004. He also played a role in Freescale&#39;s buyout by four private equity firms in 2006 for $17.6 billion. The equity firms included The Blackstone Group, The Carlyle Group, Permira Funds and Texas Pacific Group.However, the company has been struggling financially, posting a loss of $525 million on sales of $1.54 billion in the fourth quarter of 2007. For 2007, the company reported a loss of $1.6 billion on net sales of $5.7 billion. Freescale&#39;s sales totaled $6.36 billion in 2006.The company&#39;s key customer remains Motorola, to which it sells chips for wireless handsets, networking infrastructure and other devices such as set-top boxes. Motorola, which is struggling financially and saw a management shakeup in recent months, is considering spinning off its handset business. Ed Zander announced in December that he would step down as Motorola&#39;s CEO.