Sprint Names New CEO

View Comments
(Photo by Aaron Davidson/Getty Images)

(Photo by Aaron Davidson/Getty Images)

From Our CBS Music Web Sites

453641528 10 Sprint Names New CEOAdorbale Baby Animals To Put A Smile On Your Face

150725619 10 Sprint Names New CEOHot Models In Glasses

 alt=Musicians Then And Now II

452359780 10 Sprint Names New CEOMissing Summer?

87222728 Sprint Names New CEO8 Reasons to Have A Good Love Life

sx Sprint Names New CEO Victoria's Secret Fashion Show

NEW YORK (AP) — Sprint is replacing its longtime CEO Dan Hesse with Brightstar CEO Marcelo Claure on the heels of a report that it is dropping its bid for rival wireless carrier T-Mobile.

Sprint shares fell 17 percent in premarket trading Wednesday.

On Tuesday, The Wall Street Journal said Sprint decided not to pursue the merger of the No. 3 and No. 4 U.S. carriers, citing people familiar with the matter. It said Sprint planned to make an announcement about plans Wednesday.

Sprint says the 43-year-old Claure will replace Hesse on Monday.

Claure had been CEO of Brightstar Corp., a wireless distributor that is part of Softbank Corp. of Japan, which bought 70 percent of Sprint last year.

Hesse joined Sprint as CEO in 2007 and led the company through several acquisitions including the Softbank deal.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Latest News:

Top Trending:

View Comments