Sprint names a new CFO as part of management shake-up

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Sprint, which is currently the number 3 mobile operator in the US, said that CFO Joseph Euteneuer will leave the company, and has named Tarek Robbiati as his successor in just one of many executive changes announced Monday.

Sprint management shake-up

Robbiati will join Sprint in late August. He has stepped down as chief executive of the Australian financial services company FlexiGroup Limited.

The 50 year old has served as a deputy CFO of Telstra, Australia’s top mobile operator, according to Sprint. Sprint’s shares fell 2.4% in after hours trading.

The firm says that Robbiati will receive a base salary of $800,000 per year, higher than Euteneuer’s base salary of $775,000 as of 2014.

Sprint also announced that Günther Ottendorfer will join as chief operating officer for technology, effective immediately. Ottendorfer previously stepped down as Telekom Austria’s chief technology officer in March this year.

Sprint also promoted John Saw to chief technology officer, who will report to Ottendorfer to lead a new technology office, responsible for network planning, deployment and IT.

Junichi Miyakawa, technical chief operating officer, will now become a senior technical adviser to the CEO and liaise between Sprint and SoftBank Corp, which owns an 80 percent stake in Sprint.

Sprint has recently been reducing costs and also adding more stores as part of its turnaround plan, but there are still questions whether the company is able to balance costs within the investments needed in network upgrades.

SOURCE: Reuters.

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