Sprint investor challenges Forsee's leadership
Oct 4, 2007 | Posted by: Kansas City Star | Full story: Kansas City Star
“We wouldn't comment on board or shareholder activity”
An investor who has been agitating for strategy changes at Sprint Nextel Corp. challenged Gary Forsee's leadership Wednesday in an interview with The Wall Street Journal.
Ralph Whitworth, founder and principal of San Diego-based Relational Investors, reportedly has been amassing Sprint shares this year, reaching 53.1 million shares, or about 1.9 percent, according to the report. Whitworth has used similar positions in shake-ups at other companies.
Forsee, Sprint's chairman and chief executive officer, is directing a strategy for the nation's No. 3 wireless carrier that includes competing for mobile phone customers, helping cable television clients with Sprint's wired network, and investing billions of dollars in a new wireless technology known as WiMax. Read more
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