Sprint names Brightstar's Claure CEO; shares -17.2%

|About: Sprint Corporation (S)|By:, SA News Editor

Sprint (NYSE:S) has confirmed reports CEO Dan Hesse is leaving, and will be replaced by Marcelo Claure, founder/CEO of of mobile hardware distributor Brighstar.

Claure, 43, is already a member of Sprint's board. He'll be resigning from Brighstar, and SoftBank (OTCPK:SFTBF) will acquire his remaining interest in the company. Bloomberg states Hesse may receive a $40M+ severance package.

Shares are off sharply premarket due to widespread reports Sprint is ending its bid (for now) to acquire T-Mobile on account of regulatory opposition, as investors fear the carrier will continue bleeding share to T-Mobile, Verizon, and AT&T as an independent entity.

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