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Sprint names wireless chief as president and COO

Posted on: Wednesday, 10 September 2003, 06:00 CDT

OVERLAND PARK, Kan. (AP) -- The chief of Sprint Corp.'s wireless division is taking over as the president and chief operating officer of the parent telecommunications firm.

Len Lauer, who will remain president of the Sprint PCS wireless unit, replaces Ronald T. LeMay, who left in April amid controversy over a tax shelter he and former-CEO William Esrey used to defer $123 million in taxes on their earnings from stock options.

Sprint also said Wednesday it will reorganize its operations around on two market segments: business and residential customers. The company currently is organized by wireline and wireless operations, with separate tracking stocks for the two businesses.

Gary Forsee, Sprint's president and chief executive, said the company believes a recombination of the stocks is likely at some point, but that there is no timetable.

``As always, we clearly remain committed to doing what is in the best economic and operational interest of all of our shareholders,'' Forsee said.

As president and chief operating officer, Lauer, 46, will lead Sprint's sales, marketing and customer care operations.

Lauer has been president of Sprint PCS since September 2002. Before that, he ran the company's long-distance division. He joined Sprint in 1998 from Bell Atlantic-New Jersey, where he was president and chief executive officer.

``Len Lauer understands the marketplace,'' Forsee said.

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On the Net:

http://www.sprint.com/

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