Sprint's board keeps close tabs on CEO Hesse

[Duffman]

From FierceWireless

 

Sprint Nextel's board is taking a more active role in managing investor concerns about the direction of the carrier and is keeping an eye on the moves of CEO Dan Hesse, according to a report in the Wall Street Journal.

 

The report, which cited unnamed sources familiar with the situation, said Sprint Chairman Jim Hance has met all of the company's major shareholders in the past six months to persuade them that the board understands their concerns about Sprint, which despite improving subscriber numbers is still losing money.

 

According to the report, Sprint's board dispatched Hesse to work more closely with Keith Cowan, Sprint's head of strategic planning, in order to accommodate partner concerns about Cowan's style. Hesse and Cowan worked together to finalize funding and partnership agreements with Clearwire last fall. The report also noted that two potential deals have foundered this year, one to acquire flat-rate player MetroPCS and another with T-Mobile USA over network sharing. The MetroPCS deal was reportedly close to being finalized last month but was killed by Sprint's board.

[lynyrd65]

Hmmm..... I hope the board isn't pushing for tiered data.

[Sgt. Slaughter]

Hmmm..... I hope the board isn't pushing for tiered data.

 

Hopefully they are smarter than that... If you take that and price wise we end up close to VZ ever then for the first time in over 12 yrs you'd see me debate switching...

 

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[jpkjeff]

CNET linked to the story also, and one of their writers added some commentary:

http://news.cnet.com/8301-1035_3-57396590-94/sprints-dan-hesse-just-got-a-warning-notice-from-his-board/?part=rss&subj=news&tag=2547-1_3-0-20

[Duffman]

 

Hopefully they are smarter than that... If you take that and price wise we end up close to VZ ever then for the first time in over 12 yrs you'd see me debate switching...

 

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No way. Boards don't oversee at that level. They are basically reflecting the concern that Hesse is making some serious commitments that may not be in the interests of shareholders. The stock has lost 90 percent t over the last five years and the company is still bleeding. I am sure investors just want Hesse to be reigned in on mergers/acquisitions and the like. They aren't concerned about price plans.

[legion125]

I guess tongues are wagging now, this report says that an investor criticized Sprints complicated plans. Although I don't agree with Sprints one size fits all approach for everyone, but you have to admit it doesn't take rocket science to figure out if you want data on a family plan, every one is going to get it.

 

Some investors have been vocal with their criticism of Hesse. According to Monday's Wall Street Journal, Dragos Stefanescu, a director for the Ontario Teachers’ Pension Plan, criticized Sprint's complicated network plans at a lunch meeting in Boston last year.

 

http://www.phonearena.com/news/Pension-Plan-investor-criticizes-Dan-Hesse-Sprints-board-still-supports-CEO_id28018

[Duffman]

Dragos sounds like an idiot if he thinks Sprint's plans are complicated.

[Sgt. Slaughter]

Dragos sounds like an idiot if he thinks Sprint's plans are complicated.

 

Me thinks they should focus more on directing the pension plan than trying to understand the network...lol

 

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[legion125]

Poor Dan needs our sympathy.

 

http://www.theverge.com/2012/3/14/2870259/sprint-ceo-dan-hesse-board-pressure

[BenChase7]

Looks like we can put an end to these rumors: Sprint Shareholders vote to re-elect Dan Hesse. 90% vote in favor of Hesse.

 

http://money.msn.com/business-news/article.aspx?feed=OBR&date=20120515&id=15112432

[MacinJosh]

Looks like we can put an end to these rumors: Sprint Shareholders vote to re-elect Dan Hesse. 90% vote in favor of Hesse.

 

http://money.msn.com...515&id=15112432

 

I voted to keep him as CEO! He is doing the best that he can despite the problems he inherited from his predecessor.