Printed from http://www.electronista.com

Sprint departures echo underlying woes

updated 03:10 pm EDT, Tue March 18, 2008

Directors leave Sprint

Two more directors are leaving Sprint, writes the Wall Street Journal. Keith Bane and Linda Koch Lorimer have announced that they will not pursue re-election at May's shareholder meeting; the company now has a sizable four vacancies to fill, Frank Drendel and William Swanson having announced similar news last month. This may benefit Sprint, however, according to analyst Walter Piecyk of Pail Research. "The departure of four board members should provide a much needed fresh perspective to the board," he says.

Sprint has taken a number of corporate blows in the past year. The company recently reported a $29.5 billion loss for 2007, thanks in part to the departure of 683,000 subscribers. It also negotiated a mire of lawsuits, and has yet to finalize its WiMAX deal with Clearwire. In December the company jettisoned ex-CEO Gary Forsee, taking on Dan Hesse, who is in the early stages of trying to revive the company's fortunes.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Linksys WRT1200AC Wi-Fi Router

Once upon a time, a brand-new Linksys router showed up on our doorstep. So we gathered some network-minded friends together, and hooke ...

Rapoo A300 Mini Bluetooth NFC Speaker

The Rapoo Bluetooth Mini NFC Speaker is a little metallic box about the size of a baseball. In spite of its small size, we were very p ...

Neurio Intelligent Home Monitor

The recently released Neurio Intelligent Home Monitor is a piece of hardware that, when integrated into a home's breaker box, monitors ...

Advertisement

toggle

Most Commented

 
toggle

Popular News