SPRINT CORPORATION (NYSE:S) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 1, 2018, the Board of Directors (the “Board”) of Sprint Corporation (the “Company”) approved the appointment of Marcelo Claure as Executive Chairman of the Board of the Company and the cessation of his services as the Company’s Chief Executive Officer, and the appointment of Michel Combes as Chief Executive Officer of the Company and the cessation of his services as the Company’s Chief Financial Officer, each becoming effective on the earlier of (1) the date the Company has appointed a new Chief Financial Officer and definitive amended and restated employment agreements for Messrs. Claure and Combes have been agreed to, or (2) May 31, 2018.
On May 1, 2018, Mr. Claure informed the Board that he has accepted an offer to become the Chief Operating Officer of SoftBank Group Corp. and Chief Executive Officer at SoftBank Group International. Mr. Claure will continue to serve as Executive Chairman of the Company once his employment with SoftBank commences.
About SPRINT CORPORATION (NYSE:S)
Sprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline. The Company offers wireless services on a postpaid and prepaid payment basis to retail subscribers and also on a wholesale basis. The Wireline segment provides voice, data and Internet Protocol (IP) communication services to its Wireless segment. The Company offers wireless and wireline services to subscribers in approximately 50 states, Puerto Rico, and the United States Virgin Islands under the Sprint corporate brand, which includes its retail brands of Sprint, Boost Mobile, Virgin Mobile and Assurance Wireless on its wireless networks utilizing various technologies.