Will Sprint (S) Stock Be Helped Today by CEO’s Management Shakeup?
By Tedd Cohen
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.
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