Just as we expected, Sprint’s CEO has stepped down from his position at the head of the table. Gary Forsee is no longer CEO of Sprint. Sprint will look to CFO Paul Saleh as the interim CEO until the board of directors can find a suitable replacement for a fulltime CEO. James Hance, Jr. will be acting chairman until a replacement is found.
So, the question is what will happen to Sprint’s WiMAX venture, dubbed XOHM? Sprint has reserved $5 billion in the XOHM infrastructure build-out, but the new CEO might be pressured to rethink the move to WiMAX. We think Sprint should continue to build-out their next-gen wireless broadband network. The definitely aren’t going to make any traditional headway against the likes of AT&T and Verizon Wireless, so Sprint might as well bank on a future 4G network that promises super-high broadband speeds.
[Via: Wall Street Journal]