The pressure of poor performance and a falling share price finally got to Sprint’s (S) board of directors. CEO Gary Forsee is being forced out, and the company will begin looking for a replacement.
The Wall Street Journal writes that many of Sprint’s problems come from relying on customers with poor credit. The company has had trouble finding new subscribers while AT&T (T) and Verizon Wireless add to their totals each quarter.
The largest single question facing the company is whether it will move forward with it plan to build a $5 billion national WiMax network to offer next-generation wireless broadband.
Douglas A. McIntyre
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
