Sprint CEO Marcelo Claure formally took the helm of the nation's No. 3 carrier on Monday and is faced with immense challenges and strong expectations from Sprint Chairman and SoftBank CEO Masayoshi Son, who has put his faith in Claure to turn Sprint around.
Sprint's incoming CEO Marcelo Claure, who will succeed Dan Hesse on Monday, was handpicked for the role by Sprint Chairman and SoftBank CEO Masayoshi Son. The Bolivian-born Claure will now need to prove that he is right person to keep Sprint's turnaround chugging forward now that the carrier has abandoned plans to merge with T-Mobile US.
The unraveling of Sprint's bid to merge with T-Mobile US could spark a new round of price cuts in the U.S. market, according to financial analysts. That could lead to lower costs for consumers but it could also especially pressure Sprint, which is working to upgrade its LTE network.
Now that Sprint has reportedly discontinued attempts to merge with T-Mobile, it's worth taking a look at the reasons behind Sprint's desire to form a deal with the nation's No. 4 carrier--and, more importantly, who else may wish to ink a deal with T-Mobile now that Sprint is out of the picture.
T-Mobile's John Legere brought the "uncarrier" rockstar mentality to T-Mobile and its employees. Can Marcelo Claure do the same for Sprint?
Sprint named Brightstar Corp. founder Marcelo Claure as its next CEO, replacing Dan Hesse, who has been at the helm of the nation's No. 3 carrier since December 2007. The switch comes amid reports that Sprint and its parent SoftBank have abandoned pursuit of a merger with T-Mobile US after judging that they would face too much opposition from regulators.
Sprint and its parent company SoftBank have decided not to pursue an acquisition of T-Mobile US, according to multiple reports. And the country's third largest operator is reportedly ready to replace CEO Dan Hesse with Marcelo Claure, the head of mobile phone distributor Brightstar, possibly as early as tomorrow.
Sprint CEO Dan Hesse said the carrier is testing a variety of new pricing options, including plans that could spur more customers to pay for devices through equipment installment plans.
Proxy adviser Institutional Shareholder Services signaled its opposition to Sprint CEO Dan Hesse's $49 million pay package for 2013. The challenge comes just weeks before Sprint's annual shareholder meeting, scheduled for Aug. 6.
Sprint CEO Dan Hesse said that creating a bigger No. 3 carrier in the U.S. market would lead to better coverage in rural areas. Though Hesse did not specifically address a merger between No. 3 carrier Sprint and No. 4 carrier T-Mobile US, in an interview with Cnet he said that the creation of a larger rival to AT&T Mobility and Verizon Wireless would likely lead to that third carrier providing better coverage in rural areas.