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Sprint CEO Leaves as Bad News Arrives

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Sprint CEO Leaves as Bad News Arrives

Business

Sprint CEO Leaves as Bad News Arrives

Sprint CEO Leaves as Bad News Arrives

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The third-biggest cell phone company in the U.S. is under pressure from investors and customers. Now Sprint has ousted its Chairman and CEO Gary Forsee. That news comes as Sprint announced it expects a loss this quarter. Subscribers continue to defect to other networks. And the country's top two cell phone companies, AT&T and Verizon, have added many more subscribers this year. Two years ago Sprint acquired Nextel Communications for $35 billion. It was meant to make Sprint into a wireless powerhouse. But the company's stock has fallen 22 percent since then.

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