27 jun: Carlsberg/RBC: Indleder dækning med "sector perform"
28 jun: USA/aktier: Opløstende nøgletal løftede markedet
27-06-2012 23:38:00

3rd UPDATE: T-Mobile USA CEO Philipp Humm Resigns

Relateret indhold

--T-Mobile USA chief executive steps down abruptly

--Philipp Humm leaving to join competitor in Europe

--Search for replacement already under way, company says

(Updates with analyst comments and statement from interim CEO Jim Alling beginning in the 10th paragraph.)

By Thomas Gryta and Philipp Grontzki

T-Mobile USA, a unit of Deutsche Telekom AG (DTE.XE, DTEGY), said Wednesday that Chief Executive Philipp Humm has resigned to take a job with an unidentified competitor in Europe.

The company named Jim Alling, chief operating officer of T-Mobile USA, as interim chief executive and said a search for a successor is already under way. The move comes as the wireless company is struggling to keep up with larger U.S. rivals and upgrade its network after AT&T Inc.'s (T) $39 billion bid to acquire the company fell apart amid antitrust concerns.

Deutsche Telekom Chief Executive Rene Obermann has said selling the T-Mobile USA unit is unlikely, but the company is exploring other options, including the sale of its wireless tower portfolio.

Mr. Humm declined to comment on the situation Wednesday, noting that doing so "would be inappropriate." He said it would become clear in "a few days" where he is going to work next, but he declined to elaborate.

In a letter to T-Mobile USA staff released Wednesday, Mr. Obermann said Mr. Humm informed the company in April that he intended to leave at the end of September so he could return to his family in Europe. Mr. Humm's exit was sped up after he informed Mr. Obermann "a few days ago" that he would be joining a competitor of Deutsche Telekom.

A spokesman for Deutsche Telekom declined to name Mr. Humm's new employer.

In a press release Wednesday, Mr. Obermann said Mr. Humm gave the company "some important initiatives over the past years," including improving costs at the U.S. unit, but now the company needs "somebody who can convert initiatives into market successes."

Mr. Obermann said in the letter that he has spoken to "a number of promising candidates" to succeed Mr. Humm.

Mr. Humm's successor will face a daunting set of challenges. T-Mobile USA is in the midst of a multiyear upgrade of its network as it scrambles to make up for time lost while the planned merger with AT&T was under review.

RBC Capital Markets analyst Jonathan Atkin said any new chief executive is likely to maintain the company's current direction because there is so much committed to the turnaround plans.

"I don't think this is the time to make major changes to the strategy," he said.

In a letter to employees Wednesday, Mr. Alling said he is committed to the current strategy and leading the company to growth.

Deutsche Telekom has made it clear that it wants to exit from the U.S. business, but industry observers don't expect the company to get anything near the $39 billion valuation that AT&T was willing to pay because business has deteriorated. Some on Wall Street have speculated that the company would merge, or partner, with Sprint Nextel Corp. (S), a company that also has struggled against larger rivals AT&T and Verizon Communications Inc. (VZ).

T-Mobile USA remains the only major U.S. wireless carrier without Apple Inc.'s (AAPL) iPhone, a popular draw for many subscribers. Mr. Humm has previously said the iPhone is a major reason T-Mobile lost 1.7 million contract customers last year.

Mr. Humm joined Deutsche Telekom in 2005, and was initially responsible for the company's mobile business in Germany.

He stepped down from that position in November 2008, taking responsibility for a massive breach of customer data in 2006, when around 17 million T-Mobile customers' data were stolen. Mr. Humm has led T-Mobile since November 2010.

Write to Thomas Gryta at thomas.gryta@dowjones.com

-Greg Bensinger contributed to this article.

(END) Dow Jones Newswires

June 27, 2012 17:38 ET (21:38 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Simcorp: Statsejet investeringsfond udvider forretningsomfang

24-05-2016 16:33:20
En mellemøstlig, statsejet investeringsfond har truffet aftale med softwareproducenten Simcorp om at udvide fondens anvendelse af Simcorp Dimension.Det oplyser ..

Nordea siger hverken ja eller nej til højere bidragssats

24-05-2016 12:55:20
I Nordeas forretning for boliglån er en konkurrents melding om højere bidragssatser ikke gået ubemærket hen.Realkredit Danmark varsler prisstigninger for en del..

Aktier/middag: Genmab fortsætter rekordridt på grøn dag

24-05-2016 11:41:24
De danske aktier er efter en lavere start kommet i bedre form ud på formiddagen tirsdag og ligger kort før middag med små plusser.Blandt eliteaktierne trækker b..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Vestas-dir: Innovation eller vi dør
2
Tirsdagens aktier: Novo og Nordea trak C20 til solidt plus
3
Danske/Nordnet: Sådan vil bidragssatserne påvirke aktien
4
Aktier/tendens: Udsigt til let vigende aktier efter fald i USA
5
Aktier/middag: Genmab fortsætter rekordridt på grøn dag

Relaterede aktiekurser

AT&T Inc 38,50 0,0% Aktiekurs uændret
Sprint Corporation 3,51 0,0% Aktiekurs uændret
Apple Inc 97,90 0,0% Aktiekurs uændret
Verizon Communications I.. 49,58 0,0% Aktiekurs uændret
Deutsche Telekom 16,15 0,0% Aktiekurs uændret
Verizon Comm 34,91 1,6% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2016  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
25. maj 2016 07:19:02
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20160524.2 - EUROWEB7 - 2016-05-25 07:19:02 - 2016-05-25 07:19:02 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x