Sprint CFO Leaves in Exec Shakeup

Sprint has announced that CFO Paul Saleh and two other senior executives are leaving the company as Sprint tries staunch subscriber losses.

Last week, Sprint announced it was cutting 4,000 jobs and shuttering 125 retail outlets; this week, it is announcing the departure of CFO Paul Salah and two other top execs as the company tries to find a way to reverse recent revenue shortfalls and subscriber losses.

CFO Paul Saleh will leave the company effective tomorrow, January 25; joining him on the way out the door will be chief marketing officer Tim Kelly and president of sales and distribution Mark Angelino.

Current senior VP William Arendt will take over as acting CFO until a replacement is found for Saleh. Current senior VP John Garcia will take over product development and management for the time being, while regional president for sales and distribution Paget Alves will take over as acting president of sales and distribution. “Permanent leaders will be named in conjunction with a review of overall strategy and an effort to streamline operations,” said Sprint CEO and president Dan Hesse, in a statement. “I have no predetermined timeframe in filling these positions but plan to act as quickly as possible as I consider both internal and external candidates.”

Sprint’s most recent financials showed deeper-than-anticipated losses for the fourth quarter of 2007; the 4,000 employee layoffs and retail location shutdowns are a move to reduce costs and improve Sprint’s operating margins. The company is currently the third largest mobile operator in the United States.

Sprint also announced it has filed patent infringement suits against NuVox Communications, Broadvox Holdings, Big River Telephone Company, and Paetec Communications, alleging each company is infringing on at least six Sprint VoIP patents.