Will Sprint (S) Stock Be Helped Today by CEO's Management Shakeup?

NEW YORK (TheStreet) -- Shares of Sprint (S) are up 0.41% to $4.93 in pre-market trading after it was reported that new Chief Executive Marcelo Claure is shuffling top executives as he tries to turn around the nation's struggling, third-place wireless carrier, the Wall Street Journal reports.

"It's often said that the people are the greatest asset of a company. I disagree," Mr. Claure wrote in the memo distributed to Sprint employees last week. "The right people are the most important asset."

In the memo, Mr. Claure named the more than two dozen executives who are part of his core leadership team and announced two new positions of chief experience officer and chief procurement officer. He also said three senior Sprint executives including Jeff Hallock, Sprint's chief marketing officer who oversaw Sprint's "Framily" marketing campaign, would be departing.

S Chart S data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

General Electric Booted From Dow, Replaced by Walgreens

General Electric Booted From Dow, Replaced by Walgreens

Dow Plunges on Trade War Worries but Walmart and Verizon Finish Positively

Dow Plunges on Trade War Worries but Walmart and Verizon Finish Positively

Tuesday Turnaround in Politics: Is a Trade War on the Horizon?

Tuesday Turnaround in Politics: Is a Trade War on the Horizon?

FANG Stocks Get Swept Up in Broader Market Selloff

FANG Stocks Get Swept Up in Broader Market Selloff

Snap Shares Plunge After Cowen Cuts Price Target

Snap Shares Plunge After Cowen Cuts Price Target