Following Sprint's (NYSE:S) acquisition of partner Clearwire in July after a months-long struggle to gain ownership of the company, only two Clearwire executives remain within the transformed Sprint, which itself is now owned by Japanese operator SoftBank.
As the Kansas City Business Journal notes, the two remaining executives are Dow Draper, Clearwire's former senior vice president and general manager of retail, who is now president of Sprint's prepaid operations, and John Saw, Clearwire's former CTO, who is now Sprint's senior vice president of technical architecture.
"Some of the (executives) were offered positions and accepted, some had their jobs eliminated and others chose not to accept an offer from Sprint," Sprint spokesman Scott Sloat told the paper. "They were all given severance per Clearwire's benefit plans."
As had been noted in March, top Clearwire executives stood to rake in millions of dollars from stock payments if Sprint's bid for the company eventually went through. Sprint wound up paying $5 per share for the remainder of Clearwire it did not already own following a protracted bidding war with Dish Network (NASDAQ: DISH) and unrest from Clearwire's minority shareholders.
Former Clearwire executives who are no longer with Sprint include: CEO Erik Prusch; CFO Hope Cochran; Broady Hodder, senior vice president and general counsel; Scott Hopper, senior vice president of strategic business development; Andrew Macaulay, senior vice president and CIO; Don Stroberg, senior vice president of strategic partnerships and wholesale; and Beth Taska, senior vice president and chief human resources officer.
Sprint CFO Joe Euteneuer said during an investor conference on Wednesday that Sprint expects to deploy TD-LTE technology across 5,500 Clearwire cell sites by the end of the year using Clearwire's 2.5 GHz spectrum, and will continue to roll that technology out across the nation next year. Euteneuer said the carrier will focus first on specific parts of cities and then across entire markets. "When you see that 2.5 [GHz spectrum being deployed], that's when you'll really get that speed differential that we've been touting," he said.
- see this Kansas City Business Journal article
- see this SEC filing
Sprint may use $6.5B bond offering to pay down Clearwire debt
Sprint plans to use 2.5 GHz spectrum to catch up to Verizon, AT&T in LTE
Analyst: Sprint's nationwide 2.5 GHz LTE network could be boon for tower companies
Sprint CFO: SoftBank deal lets us take Clearwire spectrum nationwide
Sprint loses 2M subs and $1.6B in Nextel shutdown, plans nationwide 2.5 GHz LTE network