Sprint Nextel (S) Thursday morning started cleaning house: the company announced the departures effective tomorrow of CFO Paul Saleh, Chief Marketing Officer Tim Kelly, and President of Sales and Distribution Mark Angelino. Buh-bye. Buh-bye. Buh-bye.
Sprint named William Arendt, the current controller, as acting CFO. John Garcia, now SVP, product development, is acting CMO. Paget Alves, now regional president for sales and distribution, will fill in for Angelino. Permanent replacements will eventually follow.
James Moorman, an analyst with Standard & Poor’s, said the management revamp is a good step by new CEO Dan Hesse. But he also notes that the company has “a long way to go,” and that he will need to make big changes to revive Sprint’s fortunes. Moorman maintains a Hold rating on the stock.
Sprint Thursday is down 10 cents at $8.62.