T-Mobile Names New CEO

by Christopher Freeburn | September 20, 2012 12:06 pm

T-Mobile USA is getting a new chief executive[1]. The wireless provider, owned by Deutsche Telekom (PINK:DTEGY[2]), announced that it has chosen John Legere to replace CEO Philipp Humm, who departed in June.

Legere has previously served as an executive at AT&T (NYSE:T[3]) and Dell (NASDAQ:DELL[4]) and formerly headed Global Crossing, Reuters noted.

T-Mobile is struggling to compete with other wireless rivals, including AT&T, Sprint (NYSE:S[5]) and Verizon (NYSE:VZ[6]) as well as a number of smaller providers like Leap Wireless (NASDAQ:LEAP[7]).

More than 200,000 subscribers left T-Mobile during the second quarter. The company’s former CEO left after just two years on the job. Deutsche Telekom attempted to sell the company to AT&T last year, but regulators blocked the sale.

T-Mobile, which will not launch a LTE network until next year, still has no sales agreement with Apple (NASDAQ:AAPL[8]) to retail the company’s popular iPhones.

Legere is credited with turning around Global Crossing after its 2003 bankruptcy. The company was sold to Level 3 Communications (NYSE:LVLT[9]) for $1.9 billion in 2011.

Shares of Deutsche Telekom rose about 1% in over-the-counter trading in New York on Thursday.

Endnotes:
  1. getting a new chief executive: http://www.reuters.com/article/2012/09/19/us-deutschetelekom-tmobile-idUSBRE88I0YH20120919
  2. DTEGY: http://studio-5.financialcontent.com/investplace/quote?Symbol=DTEGY
  3. T: http://studio-5.financialcontent.com/investplace/quote?Symbol=T
  4. DELL: http://studio-5.financialcontent.com/investplace/quote?Symbol=DELL
  5. S: http://studio-5.financialcontent.com/investplace/quote?Symbol=S
  6. VZ: http://studio-5.financialcontent.com/investplace/quote?Symbol=VZ
  7. LEAP: http://studio-5.financialcontent.com/investplace/quote?Symbol=LEAP
  8. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  9. LVLT: http://studio-5.financialcontent.com/investplace/quote?Symbol=LVLT

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