T-Mobile (NYSE:TMUS) CEO John Legere is leaving the company, but his departure isn’t affecting TMUS stock on Monday.
The announcement about John Legere leaving T-Mobile notes that this change won’t happen for a few months yet. This will have him leaving behind the role as his contract expires on April 30, 2020. However, he will remain on the Board of Directors.
Here’s a statement from the CEO about his departure from T-Mobile.
“I am extremely proud of the culture and enthusiasm we have built around challenging the status quo and our ongoing commitment to putting customers first. Together, these attributes have distinguished T-Mobile in the marketplace and on Wall Street, giving us a powerful business advantage that is instilled throughout every level of T-Mobile.”
John Legere leaving T-Mobile won’t leave the company without a leader. A transition plan is already in place that will have Mike Sievert succeeding Legere as the next CEO of TMUS. Sievert is the current President and Chief Operating Officer of the company. He also holds a seat on its Board of Directors.
The stable TMUS stock price suggests that investors aren’t worried about John Legere leaving T-Mobile. Bernstein analyst Peter Supino backs up this idea as well. He points out that the company gains a “strong strategist who has been a big part of T-Mobile’s recent success,” with Sievert as its next CEO.
TMUS stock was up slightly as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
