Sprint Names CEO, President Gary Forsee Chairman"

RESTON, Va. (AP)--Wireless carrier Sprint Nextel on Tuesday said it named its president and chief executive, Gary D. Forsee, to serve as chairman.

Forsee replaces Tim Donahue, who retires as executive chairman at the end of this month. The company, based in Reston with operational headquarters in Overland Park, Kan., announced Donahue's departure in October. He was chief executive of Nextel Communications Inc. before it was acquired by Sprint last year.

Forsee has served as president and chief executive of Sprint Nextel since the combined company's creation in August 2005. Before that, he was the CEO and chairman of Sprint Corp.

This is the second job title Forsee will have taken on within six months. He assumed the duties of Chief Operating Officer Len Lauer after Lauer stepped down in August, following a disappointing second quarter.

Sprint, the nation's No. 3 carrier, has struggled since it acquired Nextel last year as transition issues, signal quality problems and a poorly received marketing strategy has sent customers flocking to both its larger competitors, Verizon Wireless and Cingular Wireless, as well as smaller carrier T-Mobile.

Company officials have estimated they will continue to attract smaller numbers of subscribers well into next year as they try to weed out poor credit risks and other low-paying customers.

Sprint shares, which have traded in a 52-week range of $15.92 to $26.89, rose 4 cents to close at $19.47 Tuesday on the New York Stock Exchange. The shares rose 14 cents to $19.61 in after-hours trading.

(END) Dow Jones Newswires "

Posted to the site on 13th December 2006