Subject: [NEXTEL-1] Esrey, LeMay to Stay at Sprint until Successor Can Assume CEO Position

From: Marcel <[email-masked]>
Date: Wed, 12 Feb 2003 13:16:24 -0500

Esrey, LeMay to Stay at Sprint until Successor Can Assume CEO Position

The independent directors of Sprint announced that William T. Esrey has agreed
to remain as the company's chairman and chief executive during the transition
period until his successor can assume the role of CEO. Ronald T. LeMay has
agreed to remain as Sprint's president and chief operating officer during this
same transition period. Esrey's impending departure marks an unexpected turn
in the career of the longest serving chief executive of any major
telecommunications company. He joined Sprint predecessor United
Telecommunications in the 1970s and helped transform it into a powerhouse
local, long distance and wireless operation. But the company did not move
beyond its rank as the No. 3 long distance company, and the wireless unit has
never reported a profit. With a failed merger with WorldCom, the slump in the
telecom industry, and increased competition, Sprint has traveled a rough road.
Its wireless unit expects to report a profit in 2004, but its local and long distance
units still face tough futures.

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