Now that the deal between Sprint Corporation (NYSE:S) and T-Mobile US Inc (NYSE:TMUS) has been finalized and the companies are moving ahead to finalize the strategies for the future, the election of the topmost and most important position, the CEO of the joint company is a very critical and important one. Looks like the companies have figured out the CEO of the joint company post the merger.
Bloomberg’s Erik Schatzker was reporting on this last Friday and he said that John J. Legere who is currently the CEO of T-Mobile US Inc (NYSE:TMUS) might be the CEO of the joint company that would be formed by merging Sprint Corporation (NYSE:S) and T-Mobile US Inc (NYSE:TMUS). Here is what Schatzker said
“The Charismatic CEO of T-Mobile may be growing out of his pink T-shirts as Sprint nears an agreement to buy T-Mobile, John Legere is said to be the top CEO candidate for the combined companies. He is being favored over Dan Hesse, CEO of Sprint who told us in fact just weeks ago that he wouldn’t be uncomfortable with the idea of not being the boss.”
Before becoming the CEO of T-Mobile US Inc (NYSE:TMUS), Legere has been an executive at companies like AT&T Inc. (NYSE:T) and Dell. Legere would have huge expectations on his shoulders to revive the fortune of the joint companies (Sprint Corporation (NYSE:S) and T-Mobile US Inc (NYSE:TMUS)). The joint company would have immense possibilities being opened up in terms of using each other’s spectrum and providing better coverage to the customers. The company can even go head to head with AT&T Inc. (NYSE:T) in wireless broadband solution for the rural part of America.
Paulson & Co has around 16.2 Million shares in T-Mobile US Inc (NYSE:TMUS) while York Capital Management has 11.5 million shares and Dan Loeb’s Third Point has 9.5 Million shares. With the news of T-Mobile US Inc (NYSE:TMUS)’s CEO becoming the CEO of the merged company, we will have to see if this revives the stock prices as Legere has been charismatic and dynamic in his career.