Two more Sprint board members to leave
The other two of the four members of Sprint’s board of directors up for re-election have also taken themselves out of the running.
Linda Koch Lorimer, a VP at Yale University, and retired Motorola executive Keith Bane have both filed notices with Sprint saying that they would not stand for re-election, according to several news outlets.
They follow two other directors, Frank Drendel and William Swanson, who last month notified Sprint that they would not run again for a new term on the company’s board.
The Sprint board has typically had 12 members.
The departures delighted analysts, who are looking to purge everyone involved with Sprint’s 2005 acquisition of Nextel for about $35 billion. The integration of the two companies has been fitful, leading Sprint to take a “goodwill impairment charge” of nearly $30 billion in its recently completed fourth quarter (story here); the charge wiped out the year’s profits.
One of the first to go, at the end of last year, was former Sprint president Gary Forsee, who was ousted before the write-down was announced.
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