Relational's Whitworth named to Sprint board

Sprint Nextel Corp. has named Ralph Whitworth, founder and principal of activist hedge fund Relational Investors LLC, to its board. Whitworth (pictured at left) is Sprint's 12th-largest shareholder with a nearly 2% stake in the Reston, Va., telecommunications company.

Continue reading below

It had been said that the activist was instrumental in pushing Sprint's chaiman and chief executive officer Gary Forsee to step down on Oct. 8. Forsee's resignation followed a Wall Street Journal report that Whitworth had grown impatient with his leadership.

"Relational Investors is a large investor in Sprint Nextel, and over the past year I've had several discussions with Ralph and have always come away impressed by his insights and interest in working with our management to enhance shareholder value," stated James Hance, Sprint's chairman. - Michael Rudnick

See announcement from Sprint Nextel
See Oct. 8 story from TheDeal.com
See additional stories about Forsee's ouster from The Deal Blogs Network

Post a comment

Name:

Email Address:

URL:

Remember personal info?

Comments: (you may use HTML tags for style)

Please only click "Post" once. It may take a few moments to process.

Deal Video

	Inside The Deal: Linklaters' Schmidt says how regulators handled Pfizer Inc.'s acquisition of Wyeth is an outlier of how others merger reviews will be conducted.
More video...

Elsewhere on The Deal.com

Dealwatch

• Kraft Foods Inc.
• BofA-Merrill Lynch
• AIG Inc.
• Yahoo!

The Deal Magazine

• Coyote ugly
• The new super-regionals
• Buyout blackball?
• Too big to flail

Corporate Dealmaker

• GM revamps Opel management for restructuring
• Linklaters' Schmidt on Pfizer-Wyeth review
• Exxon has a JV in what?
• JAL talks with Delta, American heat up

The Deal Video

• NYSE Euronext's Cutler on hot week for IPOs
• Financial services tech firms attract investors
• Oppenheimer's Heinberg on a CIT Group bankruptcy
• Technology M&A's tipping point

Categories

• Bankruptcy
• Corporate restructuring
• Deal international
• Dealmakers
• Featured
• IPOs
• M&A
• Middle market
• Law & regulation
• Private capital
• Conferences
• Technology

Blog roll

• BloggingBuyouts
• BloggingStocks
• Dealbook
• DealBreaker
• Deal Journal
• FT Alphaville
• footnoted.org
• Going Private
• peHUB
• Reuters Dealzone
• SEC Investor
• Prince Of Wall Street
• Bankruptcy Bill
• Information Arbitrage

Archives

• November 2009
• October 2009
• September 2009
• August 2009
• July 2009
• June 2009
• May 2009
• April 2009
• March 2009
• February 2009
• January 2009
• December 2008
• November 2008
• October 2008
• September 2008
• August 2008
• July 2008
• June 2008
• May 2008
• April 2008
• March 2008
• February 2008
• January 2008
• December 2007
• November 2007
• October 2007
• September 2007
• August 2007
• July 2007
• June 2007
• May 2007
• April 2007
• March 2007
• February 2007
• January 2007
• December 2006
• November 2006
• October 2006
• September 2006
• August 2006
• July 2006
• June 2006
• May 2006
• April 2006
• March 2006
• February 2006
• January 2006
• December 2005