Sprint Names Marcelo Claure Executive Chairman; Appoints Michel Combes As CEO

(RTTNews) - Sprint Corp (S) announced that its Board has elevated Marcelo Claure to Executive Chairman, and appointed Michel Combes to the role of CEO. Claure, who has served as CEO since 2014, will remain a part of the Sprint senior management team. The transition is expected to occur on or before May 31, 2018. Separately, SoftBank Group Corp. announced that Marcelo Claure will assume the role of Chief Operating Officer of SoftBank Group Corp. and Chief Executive Officer at SoftBank Group International.

Marcelo Claure is currently CEO of Sprint, a member of the Board of Directors of SoftBank Group Corp, a member of the Board of Directors of Arm, and Chairman of CTIA - The Wireless Association. Michel Combes is currently President and CFO of Sprint and a member of the Sprint Board of Directors.

In connection with these changes, Sprint has initiated a search for a new CFO. The company said it will consider internal and external candidates.