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Sprint CEO Steps Down
Hunt underway for new boss....

Today Sprint confirmed rumors and issued a press release stating that CEO Gary Forsee would be "stepping down". According to reports, Forsee simply ran out of time to please investors.


The company offered the standard thanks to Forsee and stated they're still examining possible replacements:
quote:
"On behalf of the entire board and the Sprint Nextel employees, we want to thank Gary for his dedication and leadership and all of the contributions he has made since becoming chief executive of Sprint in 2003," said Hockaday. According to Hockaday, the decision to seek a new CEO was based on the Board's belief that it is the right time to put in place new leadership to move the company forward in improving its performance and realizing corporate objectives.
Troubles started after the acquisition of Nextel, when customers began to grumble about low quality service. Forsee was a primary architect of the company's plan to spend billions on a mobile WiMax network named Xohm that should see commercial launch next year.

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Anonymous_
Anonymous
Premium Member
join:2004-06-21
127.0.0.1

Anonymous_

Premium Member

eww

some 1 take that ulgy pic off the page

FFH5
Premium Member
join:2002-03-03
Tavistock NJ

3 edits

FFH5

Premium Member

I guess the rumors were true

Originally leaked on Friday:
»Sprint CEO may get ax because of Sprint's Wimax expenditures

The billions spent on Wimax do him in? and not just low quality service after Nextel merger?

A history of Forsee's career at Sprint:
»www.kansascity.com/news/ ··· 381.html

dvd536
as Mr. Pink as they come
Premium Member
join:2001-04-27
Phoenix, AZ

dvd536

Premium Member

Golden parachute

What does his look like?

creativedog
Premium Member
join:2000-12-03
Richmond, VA

creativedog

Premium Member

Re: Golden parachute

~$54m was the last figured tossed around but he only has 1.5M shares at $18.50 (today's closing price) that comes out to $28M+.......

Fox McCloud
Crazy like a fox.
join:2006-07-23

1 edit

1 recommendation

Fox McCloud

Member

uh-oh

While there's some things this guy has done some things that were/are questionable for Sprint....all in all, I think he was starting to hit the nail, dead-on the head when it came to this new XOHM plan....I just hope that the next CEO doesn't fark up the XOHM plans (subsidized WiMAX cards, higher prices, no XOHM deployments until much later, etc).

It's obvious Forsee could foresee (:P) that mobile broadband was, indeed, the future.

I just hope and pray that Sprint doesn't gets put further into the past by the next CEO.

FFH5
Premium Member
join:2002-03-03
Tavistock NJ

2 edits

FFH5

Premium Member

Re: uh-oh

said by Fox McCloud:

It's obvious Forsee could foresee (:P) that mobile broadband was, indeed, the future.

I just hope and pray that Sprint doesn't get put further into the past by the next CEO.
You will be praying in vain. This guy is now calling the shots and he is intent on selling off and cutting back:
»www.kansascity.com/news/ ··· 381.html
Ralph Whitworth of the San Diego firm Relational Investors, the same activist who shook up Home Depot and helped force out its chief executive, is agitating for a pullback in Sprint’s capital spending, a possible sale of its long-distance network and other changes after taking a stake in the company.

Whitworth, of Relational Investors, challenges Forsee’s leadership of the company.

Fox McCloud
Crazy like a fox.
join:2006-07-23

Fox McCloud

Member

Re: uh-oh

said by FFH5:

said by Fox McCloud:

It's obvious Forsee could foresee (:P) that mobile broadband was, indeed, the future.

I just hope and pray that Sprint gets put further into the past by the next CEO.
You will be praying in vain. This guy is now calling the shots and he is intent on selling off and cutting back:
»www.kansascity.com/news/ ··· 381.html
Ralph Whitworth of the San Diego firm Relational Investors, the same activist who shook up Home Depot and helped force out its chief executive, is agitating for a pullback in Sprint’s capital spending, a possible sale of its long-distance network and other changes after taking a stake in the company.

Whitworth, of Relational Investors, challenges Forsee’s leadership of the company.
I messed up on one of my statements...I changed it.

BillRoland
Premium Member
join:2001-01-21
Ocala, FL

BillRoland to FFH5

Premium Member

to FFH5
I'm hoping they spin the NEXTEL network/customers off to NII holdings. I think everyone ought to be prepared that dreams of WiMAX glory are probably going down the toilet with Gary.

CodeeCB
Premium Member
join:2001-10-01
Minneapolis, MN

CodeeCB

Premium Member

Re: uh-oh

said by BillRoland:

I'm hoping they spin the NEXTEL network/customers off to NII holdings. I think everyone ought to be prepared that dreams of WiMAX glory are probably going down the toilet with Gary.
Seperating Nextel would be the best possible outcome in my opinion. I'd love to get away from the Sprint brand name!

tc1uscg
join:2005-03-09
Gulfport, MS

tc1uscg to FFH5

Member

to FFH5
Ralph Whitworth of the San Diego firm Relational Investors, the same activist who shook up Home Depot and helped force out its chief executive, is agitating for a pullback in Sprint’s capital spending, a possible sale of its long-distance network and other changes after taking a stake in the company.

Whitworth, of Relational Investors, challenges Forsee’s leadership of the company.


Selling of the LD backbone? That's funny. What would PCS do if they did that? Right. Pay for access charges from the likes of AT&T, Verizon and the company who buys Sprint's best kept secret.. their wireline backbone. That would be like Homedepot selling off all it's stores and selling it's nails and potting soil out in the parking lot (without tents) . It was STUPID for Sprint to bow down and let the local division go away. AT&T and VZ didn't have to sell off it's divisions so it was a retarded thing for Sprint to do. Sad to see them go out of business after over a hundred years of telecom services all because of those greedy bastards, the investors.

TScheisskopf
World News Trust
join:2005-02-13
Belvidere, NJ

TScheisskopf to Fox McCloud

Member

to Fox McCloud
Prediction: Some things get spun off and their backbone is sold to AT&T.

phattieg
join:2001-04-29
Winter Park, FL

phattieg

Member

Thanks Gary...

For the SERO plan. I love my phone service

Fox McCloud
Crazy like a fox.
join:2006-07-23

Fox McCloud

Member

Re: Thanks Gary...

said by phattieg:

For the SERO plan. I love my phone service
Indeed! I just hope the next CEO doesn't ax all the SERO customers....or even ax the SERO plan altogether; if he does...man oh man.

phattieg
join:2001-04-29
Winter Park, FL

phattieg

Member

Re: Thanks Gary...

said by Fox McCloud:
said by phattieg:

For the SERO plan. I love my phone service
Indeed! I just hope the next CEO doesn't ax all the SERO customers....or even ax the SERO plan altogether; if he does...man oh man.
I will let them cancel my contract because "I moved to the middle of the Nevada desert, and have no coverage"...

The Beer
I Love It When A Plan Comes Together
Premium Member
join:2001-07-24
Lincoln, NE

The Beer to Fox McCloud

Premium Member

to Fox McCloud
Yes SERO is da bomb.

I am a customer that never would have come to Sprint had they not had a killer plan.

SERO 1250 + Sprint To Home + Blackberry 8830 + Free Text + 7pm N/W $81/mo after corp disc.

Thinking of getting a Mogul just to use as a EVDO.a card, wish they would lower the EVDO cards to $29.99/mo, I would be in like flynn.

cdigioia
Premium Member
join:2005-06-08
korea, repub

cdigioia to phattieg

Premium Member

to phattieg

Hope they don't drop SERO now...

because if they do, I may never get it back, I'm leaving the country for a year! Dear lord the cost of unlimited text messages and internet...and don't get me started on the "normal" cellular prices for anytime minutes...and the phones from Verizion that don't have J2ME...and don't allow forced roaming...and all the discounts I have but shouldn't, and, and...

I'm seriously bothered.
sharksfan3
Premium Member
join:2004-02-16
North Hollywood, CA

sharksfan3

Premium Member

Tim Donahue anyone?

Time to bring him back on board.

POB
Res Firma Mitescere Nescit
Premium Member
join:2003-02-13
Stepford, CA

POB

Premium Member

Good Riddance

Wimax was Forsee's baby. Boost Mobile makes all the $$$$$$$$$$$$$$$$ for Sprint, anyway.

jgkolt
Premium Member
join:2004-02-21
Avon, OH

jgkolt

Premium Member

airave launched

They did launch the airave trials today in 3 parts of the company. 0, or 50, or 100$ ubicell device and it costs 5 a month to use, 15 for unlimited calling, 30 for the whole family plan. 3 at a time and it needs a gps signal to operate. People feel free to fill in the people on what this is if you dont know. I like hotspot@home much better an duse it everyday.

calvoiper
join:2003-03-31
Belvedere Tiburon, CA

1 recommendation

calvoiper

Member

Harvesting a four year old crop

The real mistake here was in 2003 when Sprint dumped Esrey and LeMay, their established leadership, so they could keep their same accounting firm as auditor. (The accounting firm had given Esrey and LeMay bad personal tax advice and were being sued for it, and Sprint had to either dump its auditor or its leadership because they couldn't work together. In the classic wrong choice, Sprint decided to keep the side that had fouled up and dump the execs.)

As a new CEO, Forsee then felt the pressure to "do something big", and has chased dreams since that time. Whether or not the WiMax dream pays off, Forsee is history.

Personally, I'd have thought he did something big if he just got rid of the d@mned bleepy burp that Nextel phones emit all the time. Is there some supposed purpose to that annoyance, anyway? Or is it just feeding the user's ego, saying "I'm using Nextel!" to his annoyed neighbors?

calvoiper
jay_rm
join:2002-04-12
Netville

jay_rm

Member

Re: Harvesting a four year old crop

said by calvoiper:

Personally, I'd have thought he did something big if he just got rid of the d@mned bleepy burp that Nextel phones emit all the time. Is there some supposed purpose to that annoyance, anyway? Or is it just feeding the user's ego, saying "I'm using Nextel!" to his annoyed neighbors?

calvoiper
I guess you don't understand how a trunking system works. Nextels' iDEN system is not like cellular in its call setup.
The user alert is necessary.

calvoiper
join:2003-03-31
Belvedere Tiburon, CA

calvoiper

Member

Re: Harvesting a four year old crop

said by jay_rm:

I guess you don't understand how a trunking system works. Nextels' iDEN system is not like cellular in its call setup.
The user alert is necessary.
Yes, some sort of user alert may be necessary, based on the inherent delay in such a network. It does not need to be as loud or obnoxious as the Nextel chirp, indeed it does not need to be audible at all.

In its present form, it is as gaudy and garish as putting a label on an engagement diamond to show everyone its weight. It's just an annoying advertisement and it's one more reason some places ban cellphones.

calvoiper

inteller
Sociopaths always win.
join:2003-12-08
Tulsa, OK

inteller

Member

message to Forsee

You fail it! Your skill is not enough, see you next time, bye-bye!

friendofed
@ameritech.net

friendofed

Anon

CEO Replacement

How about Cathy Coughlin over at AT&T. She helped turn around Ameritec after the SBC purchase. Or Ray Wilkins.

WeSRT4
join:2000-11-20
Mobile, AL

WeSRT4

Member

Sprint is on the way out.

This guy lacks leadership and couldn't move the company on any initiative put forth. IMO it's too late for Sprint as they are beyond saving at this point. I too wouldn't be surprised to see Nextel spun off. After that I would expect for the remainder of the company to be sold off.

StarFish267
join:2005-11-25
Keller, TX

StarFish267

Member

I Vote Cindy Rock CEO.

Bring Back Cindy.
I Vote Cindy Rock CEO.