Sprint Appoints Marcelo Claure As President And CEO - Quick Facts

(RTTNews) - Sprint Corp. (S) announced Wednesday that it appointed Marcelo Claure as the company's next President and Chief Executive Officer, effective August 11.

Claure, 43, joined the Sprint Board of Directors in January and is the Founder and CEO of Brightstar Corp., a subsidiary of SoftBank Corp.

Claure will resign his position at Brightstar effective August 11 and SoftBank announced it would acquire Claure's remaining interest in the Company.

Claure succeeds Dan Hesse, who joined Sprint as President and CEO in December 2007 and led the company through a series of acquisitions, including the merger with SoftBank, and a multi-year overhaul of its nationwide network, including the shutdown of the Nextel network.

The company stated that Claure will be based at Sprint headquarters in Overland Park, KS, and plans to relocate to the Kansas City area.