Sprint Corp is ditching Chief Financial Officer Joseph Euteneuer amid a major executive shakeup. Replacing Mr. Euteneuer is Tarek Robbiati.
Robbiati, who will join in late August, stepped down as chief executive of Australian financial services provider FlexiGroup Ltd in June. He also served as the deputy CFO of Telstra Corp Ltd, Australia’s leading telecoms company, Sprint said.
Sprint’s shares were down 2.4 percent in trading after the bell.
Robbiati will receive a base salary of $800,000 per year, slightly more than the $775,000 Euteneuer was paid during the 2014 fiscal year.
Also joining the company as Chief Operating Officer of Technology (C.O.O.) is Günther Ottendorfer. Ottendorfer, 46, stepped down as Telekom Austria’s chief technology officer in March.
In what we can describe as a top-down shakeup, the company also promoted John Saw to chief technology officer (CTO). Saw will report to Ottendorfer, who will lead a newly created technology office which focuses on network planning and deployment as well as information technology.
Junichi Miyakawa, technical chief operating officer, will become a senior technical adviser to the CEO and will be a liaison between Sprint and SoftBank Corp.
The company has been attempting to balance costs with investments in network upgrades, a sticking area for analysts.
Sprint is scheduled to report first-quarter earnings on Tuesday. Some analysts believe the company may fall into fourth place behind ‘Uncarrier’ T-Mobile.
Sprint shares closed at $3.34 in regular trade on Monday.