Tuesday, August 22, 2006

Sprint COO resigns

Sprint Nextel said on Monday that Chief Operating Officer Len Lauer was leaving the company and his responsibilities would be assumed by Chief Executive Gary Forsee amid moves to improve the company’s performance after two quarters that disappointed investors. Sprint, the No. 3 U.S. wireless provider, said in a statement that the COO position would not be filled. Analysts said Lauer had likely been pushed out as a result of the company’s recent weaker-than-expected growth.

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