WiMax puts Sprint’s Foresee under pressure
Sprint Nextel’s Chief Executive Gary Forsee is feeling pressure from activist investor Ralph Whitworth who told The Wall Street Journal that investors have lost confidence in the leader.
Since gaining a stake in Sprint earlier this year, Whitworth has rattled the cage with management regarding its investments in WiMAX as well as what he calls poor attention to the company’s core mobile-phone business. He also asked the company to consider the potential sale of its fiber-optic-networking and long-distance operations. Sprint has been struggling with churn in its core mobile-phone business, its integration of Nextel and heavy spending on WiMAX.
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