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+--- Thread: stepping out with my baby?!....T-Mobile CEO Legere stepping down..... (/showthread.php?tid=234518)
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stepping out with my baby?!....T-Mobile CEO Legere stepping down..... - NewtonMP2100 - 11-18-2019
.....next year.......replaced by Mike Sievert.....
John Legere to step down as T-Mobile CEO next year
T-Mobile President and COO Mike Sievert will succeed John Legere as CEO on May 1, 2020, the company announced Monday.
CNBC’s David Faber reported in July that Sievert was expected to take over as CEO once T-Mobile’s $26 billion merger with Sprint closes.
Legere’s next move is still unknown. CNBC reported last week that WeWork had talked to Legere about a CEO position, but sources later said Legere will not take the job.
.....T-Mobile President and COO Mike Sievert will succeed John Legere as CEO on May 1, 2020, the company announced Monday.
Shares of T-Mobile were down about 1.7% in premarket trading following the news.
Sievert has been the heir apparent as Legere was expected to step down as CEO once T-Mobile’s merger with Sprint is completed. Legere’s contract ends on April 30, 2020, according to the announcement. Leger tweeted Monday that the decision “has been under development for a long time.”
CNBC’s David Faber reported in July that Sievert was expected to take over as CEO once the deal closes. The $26 billion deal has cleared key hurdles on the federal level but still faces a legal challenge from a team of state attorneys general seeking to block the deal. The case will go to trial next month.
When T-Mobile and Sprint first announced their intention to merge in April 2018, the companies said Legere would lead the combined business as CEO, with Sievert continuing to serve as President and COO.
Legere’s next move is still not known. CNBC and The Wall Street Journal reported last week WeWork has spoken to him about taking over as CEO following Adam Neumann’s ouster. But CNBC later reported that Legere is not taking the job, according to people familiar with the matter.
Legere was named T-Mobile’s CEO in 2012 and made a number of aggressive moves to grow the company’s wireless subscribers as it faced steep competition from its larger rivals, AT&T and Verizon. As other carriers pushed customers to sign up for wireless plans with data caps, Legere created unlimited wireless plans for T-Mobile and offered to pay termination fees for customers who switched over. Eventually, the rest of the industry followed suit and offered unlimited plans as well.
Legere was also responsible for bringing the iPhone to T-Mobile for the first time. And he went through multiple merger talks with Sprint over the years before finally locking the deal down in April 2018. The company expects to complete the merger next year.
heading out the door..........?!
Re: stepping out with my baby?!....T-Mobile CEO Legere stepping down..... - vision63 - 11-18-2019
Not a single journalist asked "why?"
Re: stepping out with my baby?!....T-Mobile CEO Legere stepping down..... - macphanatic - 11-18-2019
vision63 wrote:
Not a single journalist asked "why?"
He's probably decided to move on as he stands to get roughly a $67 million dollar payout from what I've read.
Re: stepping out with my baby?!....T-Mobile CEO Legere stepping down..... - vision63 - 11-18-2019
macphanatic wrote:
[quote=vision63]
Not a single journalist asked "why?"
He's probably decided to move on as he stands to get roughly a $67 million dollar payout from what I've read.
I heard $78 million if the Sprint merger was approved. Technically it has. The payout you mention would be on top of that.
Re: stepping out with my baby?!....T-Mobile CEO Legere stepping down..... - GGD - 11-18-2019
macphanatic wrote:
[quote=vision63]
Not a single journalist asked "why?"
He's probably decided to move on as he stands to get roughly a $67 million dollar payout from what I've read.
And his contract is ending then.
"Legere’s contract ends on April 30, 2020, according to the announcement."
New guy starts the next day.
"T-Mobile President and COO Mike Sievert will succeed John Legere as CEO on May 1, 2020, the company announced Monday. "
Looks like a transition well planned in advance.
Re: stepping out with my baby?!....T-Mobile CEO Legere stepping down..... - vision63 - 11-18-2019
GGD wrote:
[quote=macphanatic]
[quote=vision63]
Not a single journalist asked "why?"
He's probably decided to move on as he stands to get roughly a $67 million dollar payout from what I've read.
And his contract is ending then.
"Legere’s contract ends on April 30, 2020, according to the announcement."
New guy starts the next day.
"T-Mobile President and COO Mike Sievert will succeed John Legere as CEO on May 1, 2020, the company announced Monday. "
Looks like a transition well planned in advance.
He was rumored to be taking over the WeWork job as they spiral down. He announced just this Friday that he had "no plans to depart T-Mobile." Suddenly, yesterday, T-Mobile alerts the media that there would be a big announcement this morning. He steps down.
Re: stepping out with my baby?!....T-Mobile CEO Legere stepping down..... - Don C - 11-18-2019
I could probably make it on only $67 million if I had to.
Re: stepping out with my baby?!....T-Mobile CEO Legere stepping down..... - vision63 - 11-18-2019
Don C wrote:
I could probably make it on only $67 million if I had to.
Maybe, after you bought us all Mac Pros with $1000 monitor stands, because that's what we would want Don. Give it up.
Re: stepping out with my baby?!....T-Mobile CEO Legere stepping down..... - freeradical - 11-19-2019
He'll be able to afford a home in San Francisco.
Re: stepping out with my baby?!....T-Mobile CEO Legere stepping down..... - SteveO - 11-19-2019
Legere did some cool stuff to set T-Mo apart from the others, but these days they are pretty similar in plans and pricing imo. I switched to T-Mo in 2012 or so because I was sick of Sprint's spotty service, and T-Mo had quite good pricing with prepaid back then. That is pretty much gone now and they're like the other carriers.