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Hockaday leaving Sprint Nextel board
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Irvine Hockaday, Jr. told Sprint Nextel that he is resigning from the company's board of directors. Hockaday said he will not stand for re-election at the Sprint's annual shareholder's meeting May 12.
Hockaday, 72, has been on Sprint's board since 1997. His departure was entirely his decision, a company spokesman said, and not the result of any disagreement with the board. Hockaday is the former president and CEO of Hallmark Cards, and he currently serves on the boards of Ford Motor Co., Estee Lauder and Crown Media.
Hockaday has been involved in recruiting almost all of Sprint's remaining board of directors. He also was involved in hiring Sprint CEO Dan Hesse. Hockaday said Hesse was doing all he could to help the company during difficult times.
"Dan Hesse is absolutely the right person, doing every conceivable thing in a difficult environment that needs to be done," Hockaday said in an interview with the website SprintConnection. "I feel very positive about where the company is." Sprint has lost 2.6 million subscribers in the last two quarters.
Sprint did not name an immediate successor to fill Hockaday's seat on the board.
For more:
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Comments
Posted by tess | March 30, 2009 - 10:42am
This is the man who was on the board (Mr Hockaday), who approved all the bloated compensation that Bill Esrey received, even though Mr Esrey lost the company over 1 Billion dollars with the ill fated "ION" program....absolutely amazing...Mr Hockaday was not well regarded at Hallmark either, just a country club friend of the Hall's. It's amazing to me how these people have jobs....Connections and incompetency seem to run together....Check out Mr Hockaday's remarks when he was on the Estee Lauder board. When he saw the word "foundation" in some corporate documents, he remarked that he didn't know they were in the construction industry. He didn't even bother to research that "foundation" is a word for makeup which is the core business of Estee Lauder...this is directly from a Wall Street Journal story about Boards across the country. It appeared several years ago. It may sound petty, but is such a good illustration of these professional "board sitters" , who are well compensated and completely out of touch...Good riddance to him and others like him.
Posted by Anonymous | March 31, 2009 - 6:40am
The rest of the board should leave too. American board directors and greedy CEOS are killing American capitalism.If we get socialism in this country, thank your CEO and his directors!
Posted by hoborella | April 1, 2009 - 10:30am
Socialism rose in 1933, google '1933 business plot'.
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