Gary Forsee

5 Stories

Sprint Nextel: A House Divided

Two years into merger, partners remain wary of each other

(Newser) - The $35 billion merger of long-distance carrier Sprint and wireless innovator Nextel sought to create a company capable of competing with the nation’s largest wireless carriers, Verizon and AT&T. Instead, distinct cultures have warred over everything from ad strategies to executive teams, leaving the company with poor morale,... More »

Sprint Profits Dive 77% As Subscribers Defect

Network loses most customers since Nextel merger

(Newser) - Sprint Nextel subscribers jumped ship this quarter, taking the stumbling wireless giant’s profits with them. Profit fell 77% this quarter, Bloomberg reports, as 337,000 contract customers departed, the biggest exodus since the Nextel merger. The company said it would miss its 10% growth goal next year. “Their... More »

Sprint Nextel CEO Resigns

Wireless carrier begins search for successor as customer base dwindles

(Newser) - Sprint Nextel Corp. chief Gary Forsee has stepped down after the wireless giant warned investors that the company is struggling to maintain its high-value client base and would not meet its previous financial goals, the Wall Street Journal reports. The exec is credited with Sprint’s 2005 acquisition of Nextel... More »

Sprint CEO Gets the Sack

Floundering wireless carrier to find replacement by December

(Newser) - Sprint CEO Gary Forsee is getting canned, the Wall Street Journal reports, as America’s number three carrier struggles to find an identity. Earlier this week activist investor Ralph Whitworth called for Forsee’s head, but it had been on the chopping block since August, Journal sources say. Sprint's net... More »

Activist Investor Amps Up for Sprint Fight

CEO slayer wants change at carrier

(Newser) - Ralph Whitworth isn’t happy with Sprint’s priorities or its management, and he’s one shareholder the wireless carrier can’t just laugh off. The principal of Relational Investors has parlayed small shares in Home Depot and Sovereign into the sacking of those corporations’ CEOs; now he says he’... More »

5 Stories