Sprint Corp. announced an exec shuffle Wednesday as CFO Michel Combes was elevated to CEO, with former CEO Marcelo Claure was named executive chairman.
The moves by the Sprint board arrives as Sprint moves ahead on its proposed merger with T-Mobile. The transition is expected to occur on or before May 31, the company said.
Claure will also assume the role of COO of SoftBank Group Corp. and CEO of SoftBank Group International, and will oversee SoftBank’s investment in Sprint and its interest in the proposed Sprint/T-Mobile combo. He along with Masayoshi Son, chairman and CEO of SoftBank, are also poised to join the board of the merged company.
Sprint has started a search for a new CFO to succeed Claure, noting that it will consider internal and external candidates.
Combes, a former exec with Altice N.V. and Alcatel Lucent, was named president and CFO of Sprint in January, reporting to Claure.