Telecom
Sprint (S) is searching for a replacement for CEO Gary Forsee, according to The Wall Street Journal.
A company representative said: "We are not going to have any comment on that." The news comes on the heels of the Journal's report Thursday that Relational Investors, the San Diego-based activist investment shop run by Ralph Whitworth, has been pressuring Sprint's board for action. Relational didn't comment. Sprint, the No. 3 wireless player behind AT&T (T) and Verizon (VZ), has been the laggard in the telco sector. It has been hit by poor integration of its Nextel acquisition and heavy customer defections. Forsee has overseen the departure of several key executives, including former chairman Tim Donahue and widely respected operations chief Len Lauer, among others. Some observers have suggested that Donahue should be recruited to take over the helm once Forsee is out.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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