by Christopher Freeburn | September 20, 2012 12:06 pm
T-Mobile USA is getting a new chief executive. The wireless provider, owned by Deutsche Telekom (PINK:DTEGY), 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) and Dell (NASDAQ:DELL) and formerly headed Global Crossing, Reuters noted.
T-Mobile is struggling to compete with other wireless rivals, including AT&T, Sprint (NYSE:S) and Verizon (NYSE:VZ) as well as a number of smaller providers like Leap Wireless (NASDAQ:LEAP).
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) 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) for $1.9 billion in 2011.
Shares of Deutsche Telekom rose about 1% in over-the-counter trading in New York on Thursday.
Source URL: http://investorplace.com/2012/09/t-mobile-names-new-ceo/
Short URL: http://investorplace.com/?p=234425
Copyright ©2013 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.