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Sprint's CEO Resigns

Article Comments  62  

Oct 8, 2007, 3:52 PM   by (staff)

Today Sprint said chairman, president and CEO Gary Forsee is resigning, effective immediately. Board Member James Hance will take on Forsee's chairman of the board role and Paul Saleh will take over as acting CEO while the board searches for a permanent replacement. A board representative cited the wish to improve the company's performance and forward direction as the reasoning behind Forsee's departure.

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This forum is closed.

working man

Oct 8, 2007, 8:20 PM

Here we ENRON again!

As a former retail employee of Sprint-Nextel the announcement today angers me to the very fiber of my being. Anger in the fact that I along with countless others were denied raises while Gary Forsee raked in millions--$21.3 million in 2006! And now, even after being fired, He will esxit in what is estimated at a $53 million dollar seperation package! Several years back the American public watched agast as Enron was exposed for the greedy monster it had become. Sprint-Nextel is no different and it will take more then a new CEO at the helm to revive this company. Sprint-Nextel's customer service and it's network are both in the toilet. I mean think about it. When your CEO is paid $23 million/year it's kind of hard to put up new cell sites and ...
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There have been other CEOS who get more money than what Forsee received on his salary and more importantly on the severance package. How dare you compare Sprint to Enron. Enron destroyed people’s lives while Sprint is doing a great job, e...
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You're either incredibly ignorant or incredibly blind if you don't think these golden parachutes aren't rampant in American business today.

Example: Glen Tilton of UAL corp. recieved $40 million last year in salary and stock benefits. Huge signi...
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Sprint is having a profit meltdown caused by bad leadership and poor management. They're losing lots of money and may in fact be bought out, but they're not through yet.

Enron was a company that actively committed fraud at multiple levels, in dire...
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sprint could use a page of lee Iococa's book... ceo get's paid $1 and a large portion of the companies stock and he went to work to come up with the mini van... he made out like gang busters... we need somebody like him.
maokh

Oct 8, 2007, 10:37 PM

After I heard this guy wanted to merge Sprint with an iDEN carrier....

...i knew this guy was a total tool.
🙄
Well, it wasn’t a foolish decision and he wasn’t a fool of doing the deal, because they do have great assets. He was a fool because he didn’t let Nextel’s management to take over and they failed on t...
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danbfree

Oct 8, 2007, 4:03 PM

THANK GOD!!!

It's about time! Sure, he might have had some good ideas about the future of the company but he waited WAAAY too long to decide to take care of the current customers. Sprint has a good network, phone repair options and Wi-Max will be great. Now it's just time to take care of everything else!
He didn’t have any good ideas actually. He made pre Sprint fail and he made post Sprint/Nextel merger fail. Saleh would help this. he did a very good job in the finances.
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kdubp

Oct 9, 2007, 11:29 AM

i heard Joe Torre is taking over

ok that was kinda bad...whatever..hes got a job opening
the_eraser

Oct 8, 2007, 9:31 PM

Sprint collapses before our eyes!

And I don't know whether to laugh, or shake my head. Shame, shame, shame...
You could do both.
The ousting of a CEO doesn't mean a company is going under. Now I'm not saying Sprint is tearing it up here but they are a long way from going under.
lufrebent

Oct 8, 2007, 4:00 PM

Is this a suprise?

I gotta admit, if my company publicly announced they were looking for my replacement, I don't think I'd stick around either. Or, I'd stick around and start using all my vacation time!!!
Well, he didn’t have to resign. He could have just stayed on until there is a proxy fight.
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T-Zag

Oct 8, 2007, 4:24 PM

Ding Dong

The wicked witch is dead.
How did I not see that coming!
nextel18

Oct 8, 2007, 4:01 PM

Finally (Forsee has guts for Resigning )

About time for this to happen obviously, but maybe Sale should be the CEO and CFO of the company. he did a great job with Nextel and with Sprint when it comes to its finances and re-negotiation its debt so that they would pay lower interest expense.
 
 
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