Sprint (NYSE:S) has replaced CFO Joe Euteneuer with former Telstra executive Tarek Robbiati.
The announcement comes as the carrier released its Q1 results where it raised its adjusted EBITDA outlook by more than 10% as it starts to reverse the…
Sprint (NYSE:S) has replaced CFO Joe Euteneuer with former Telstra executive Tarek Robbiati.
The announcement comes as the carrier released its Q1 results where it raised its adjusted EBITDA outlook by more than 10% as it starts to reverse the subscriber losses which have seen it slip behind T-Mobile US in the last year to become the smallest US wireless network operator.
Robbiati was most recently managing director and CEO of Australian firm Flexigroup, a consumer finance group which specialises in leasing. Prior to that, he was group MD and deputy CFO of market leading Australian operator Telstra.
Sprint’s CEO Marcelo Claure said Robbiati’s appointment is part of his company’s turnaround effort and described him as “one of the most dynamic and visionary strategic financial executives in the telecommunications and financial services industries”.
Claure continued: “He is an extraordinary leader known for his tremendous operating skills and his ability to lead organisations through complex strategic, financial, technology and operational challenges.”
Sprint said Robbiati had “a rare combination of skills and experiences”, which include building networks, cost structure optimisation and designing complex leasing agreements.
“His strong background in capital markets, treasury and balance sheet management also will be valuable as the company works to change the cash flow equation at Sprint,” the company said in a statement.
Euteneuer’s departure was a mutual agreement between the company and CFO as both agreed that it was time for a change as the needs of the company evolve, a Sprint spokesman said.
Claure thanked Euteneuer for his four years of service and wished him well in his future endeavours, which at this point are unclear. He joined Sprint in 2011 from US telco Qwest Communications where he was CFO after it was bought by CenturyLink.
Elsewhere in the company, Sprint has hired Telekom Austria’s former group CTO as its COO of technology. Gunther Ottendorfer will lead a newly-created technology office and be responsible for all network planning and deployment functions, as well as IT.
Sprint’s current technology COO, Junichi Miyakawa, will become a senior technical adviser and act as a liaison between Sprint and its Japanese owner Softbank to formulate network strategy.
