Reuters

(Reuters)

Sprint Names New CFO in Management Shake-Up

Industries Reuters

Sprint Corp, the No. 3 U.S. cellular operator, said Chief Financial Officer Joseph Euteneuer will be leaving the company and named Tarek Robbiati as his successor in one of many executive changes announced on Monday.

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Robbiati, who will join in late August, stepped down as chief executive of Australian financial services provider FlexiGroup Ltd in June.

The 50-year old has previously served as 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.

The company said Robbiati would be paid a base salary of $800,000 per year, slightly higher than Euteneuer's base salary of $775,000 in 2014.

Sprint also said Günther Ottendorfer is joining as chief operating officer, technology, effective immediately. Ottendorfer, 46, stepped down as Telekom Austria's chief technology officer in March.

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Sprint also promoted John Saw to chief technology officer. Saw will report to Ottendorfer, who will lead a newly created technology office, responsible for network planning and deployment as well as information technology.

The company also said 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, which owns an 80 percent stake in Sprint.

Sprint has been reducing costs, trimming staff and adding stores in an aggressive turnaround plan, but analysts have questioned whether the company can balance costs with investments in network upgrades.

The company, which is scheduled to report first-quarter results on Tuesday, may lose its position as the No.3 U.S. wireless provider based on subscriber numbers to T-Mobile US Inc.

Sprint's shares were trading at $3.26 in after-hours trading. They closed at $3.34 in regular trade on Monday.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila and Savio D'Souza)