Sprint Nextel Operating Chief Leaves

Sprint Nextel(S Quote) Chief Operating Officer Len Lauer will leave the company, effectively immediately, as the telecom firm makes a "change in the management of its core operations."

Gary Forsee, president and chief executive, will assume Lauer's operating responsibilities, and the chief operating officer position will not be filled, the company said in a Monday press release.

"Len has been an important part of the Sprint team for the past eight years and provided strong leadership and counsel. We thank him for his many contributions and wish him well," said Forsee.

Lauer had been in the position nearly three years.

Shares of Sprint Nextel closed Monday down 20 cents, or 1.2%, to $16.21.