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Sprint Nextel Chief Resigns

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The Tampa Tribune

Published: October 9, 2007

Sprint Nextel said Monday that chairman and chief executive Gary D. Forsee will step down immediately, just two years after directing the $35 billion merger that created the nation's third-largest wireless company.

Forsee's main job at the Reston, Va., company was to parlay the merger into a telecom powerhouse while charting a lucrative path in the growing and intensely competitive wireless industry. But he failed to accomplish those goals in the view of Wall Street and the company's board of directors.

His departure leaves the company at a difficult crossroads. The merger pitched two years ago as a combination of complementary companies has fallen flat, leaving engineering problems with the new network in its wake, sending its stock in a downward spiral, and sending customers fleeing to Sprint's larger rivals.

Forsee, who has described himself as a leader capable of executing plans, has come under fire for failing to bridge the cultural and technical gaps between the two companies and falling short forging a solid course for Sprint's financial future.

As the company tried to phase out the Nextel network, consumers experienced dropped calls and a smaller coverage area.

The Washington Post

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