Sprint CEO Marcelo Claure left for Japan yesterday to meet with SoftBank CEO and Sprint Chairman Masayoshi Son to discuss Sprint's network densification project. According to one Wall Street research firm, Sprint may soon boost its capital expenditures for 2015 once Son signs off on the plan.
SoftBank CEO Masayoshi Son promoted former Google executive Nikesh Arora to the role of president of SoftBank--and essentially designated Arora as his successor, an indication that SoftBank will continue to look beyond its native Japan for growth. Son said SoftBank, which controls 80 percent of Sprint, will be a global company and will continue to invest in mergers and acquisitions following its $21.6 billion deal to take control of Sprint in 2013.
Sprint parent SoftBank plans to clear out most of the staff of its Silicon Valley offices, according to a Reuters report, following SoftBank's aborted effort to merge Sprint with T-Mobile US.
Sprint CEO Marcelo Claure said the company plans on introducing new, aggressively priced plans next week, according to a Light Reading report. The new Sprint chief addressed a town hall meeting of Sprint employees Thursday and reportedly told them that the company will slash prices and continue focusing on improving its network to win back customers.
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.
SoftBank CEO and Sprint Chairman Masayoshi Son said that Sprint's network has improved to the point where the carrier can now aggressively start cutting prices. The comments could foreshadow a renewed price war in the United States now that Sprint has reportedly abandoned its attempts to merge with rival T-Mobile US.
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.
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.
"Who the heck is Iliad?" asked the U.S. version of PC Magazine, and indeed that question is probably still reverberating around a market that is wondering why the maverick billionaire owner of a French operator would want to spend billions of dollars on buying T-Mobile US.
Google's chief business officer, Nikesh Arora, is leaving the company to become vice chairman of Japanese wireless carrier SoftBank. The move overshadowed the release of Google's second-quarter earnings Thursday and is the latest shakeup in the search giant's executive team.