T-Mobile Names New CEO

John Legere led the turnaround at Global Crossing

By Christopher Freeburn, InvestorPlace Writer


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.

Unlimited Data Returns: Can T-Mobile Win?
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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.

Article printed from InvestorPlace Media, https://investorplace.com/2012/09/t-mobile-names-new-ceo/.

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