|Bid||76.91 x 1000|
|Ask||76.92 x 1000|
|Day's Range||76.92 - 78.30|
|52 Week Range||59.96 - 85.22|
|Beta (3Y Monthly)||0.41|
|PE Ratio (TTM)||19.80|
|Earnings Date||Feb 5, 2020 - Feb 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||89.74|
A key federal regulator is pushing back on the satellite industry’s plan to auction wireless spectrum for 5G networks.
T-Mobile CEO John Legere will step down on April 30 when his contract ends, with COO Mike Sievert replacing him on May 1. T-Mobile stock initially fell on the news, then edged higher.
John Legere, the colorful CEO of T-Mobile Us Inc (NASDAQ: TMUS), will step down next year to be replaced by Mike Sievert, the company said Monday. Sievert, the current president and COO, has been the heir apparent and expected to take over once the T-Mobile merger with Sprint Corp (NYSE: S) is complete. Legere leaves and Sievert takes over as T-Mobile attempts to complete its acquisition of Sprint, which would make it about the same size as larger rivals AT&T Inc. (NYSE: T) and Verizon Communications Inc. (NYSE: VZ).
T-Mobile said Legere will remain CEO until April 30, and will be succeeded by President and Chief Operating Officer Mike Sievert. Legere will continue to be a member of T-Mobile's board. Legere, the outspoken architect of the marketing and business strategy that helped T-Mobile become known as an innovator in the wireless industry, said the succession plan had long been in the works.
U.S. regulators approved Sprint's $26.5-billion merger with larger rival T-Mobile US Inc in July. As a concession to regulators, the companies agreed to sell Sprint's prepaid wireless business, which includes the Boost and Virgin Mobile brands, to Dish for $1.4 billion, as well as sell some wireless spectrum, or airwaves that carry data, to Dish for $3.6 billion.
(Bloomberg Opinion) -- I’m not sure which is the bigger question: What is T-Mobile US Inc. without John Legere? Or, who is John Legere without T-Mobile?“I own no other clothing,” Legere joked during a conference call Monday morning, after the wireless carrier announced that its magenta-festooned CEO will be stepping down soon. Legere’s last day will be April 30, capping a remarkably successful seven-year run during which he took T-Mobile from a distant last place among the top U.S. carriers and turned it into the fastest-growing member of the industry. He will be replaced by Mike Sievert, who is currently president and chief operating officer.Make no mistake, the CEO transition will usher in a new T-Mobile. That’s not because the visions of the two men are so different — they aren’t, and Legere has been grooming Sievert, 50, for quite some time. But T-Mobile is no longer the industry upstart, and Legere’s departure suggests that he feels his work there is almost done. The last step is to complete the acquisition of Sprint Corp., which is being held up by a group of state attorneys general rightly concerned about the potential harm the transaction may cause consumers.Legere, 61, made clear that he isn’t retiring — nor is he turning his “Slow Cooker Sunday” Facebook Live series into a full-time gig. While he said the rumors of him joining WeWork aren’t true, he has fielded a “tremendous amount” of interest from companies seeking the expertise he’s demonstrated at turning around a troubled business and generating broad enthusiasm for a brand. “I’ve got 30 or 40 years and five or six good acts left in me,” Legere, the class clown of corporate events, said on Monday’s call. When Legere joined T-Mobile in 2012, the brand was in disrepair and customers were fleeing. It looked as if the wireless carrier might never be able to catch up to Verizon Communications Inc., AT&T Inc. or Sprint. But Legere transformed T-Mobile into a self-marketing powerhouse, with he and the rest of the management team shamelessly adopting new looks as walking billboards for the company. And it worked. More important, investments in the network and novel moves to simplify customer bills altered T-Mobile’s perception from one of a budget operator of last resort to a company that’s driving industry innovation. That’s earned it customer loyalty, as evidenced by having the lowest rate of churn — or customer defections — among its peers. T-Mobile’s stock has also left the others in the dust:Over the years, Legere’s style has not only included a closet’s worth of Superman-esque T-shirts adorned with a giant letter T, but also sports coats, sneakers, a leather jacket, a chef’s hat, a sports jersey and anything that could be made hot pink or fit the company’s logo. He has 6.5 million Twitter followers — almost as many as Kris Jenner, the matriarch of the Kardashian family — and is known to respond directly to them, even occasionally dropping into calls to the customer service line. It was all part of his effort to shake up an industry that was going the way of cable-TV, with subscribers irritated by steep, overly complex monthly bills. “We saw an opportunity to disrupt a stupid, broken, arrogant industry,” a typically off-the-cuff Legere said on Monday’s call. “And T-Mobile is far from done,” he added. Though that may be for better or worse. Should the Sprint deal survive or avert the trial that’s set to begin Dec. 9, T-Mobile will gain newfound pricing power. Legere and Sievert have promised that the combined company won’t exploit this, saying that the combination instead allows them to “supercharge” what’s known as T-Mobile’s Un-carrier strategy. But the logic doesn’t quite follow. There’s little reason to believe a merger that facilitates higher prices and better profit margins wouldn’t result in exactly that, and the goodwill Legere has built up with regulators and consumers isn’t insurance enough against this scenario. Fierce competition between T-Mobile and Sprint the last few years is what benefited consumers and forced the industry to do things like offer unlimited data plans. If Sprint gets swallowed, the marketplace will be narrowed to just Verizon, AT&T and T-Mobile.(1)Sievert is a fine choice as CEO. But the reality is that the company he’s inheriting is different from the one Legere joined, and the days of T-Mobile’s incredible rapid growth will fade into the past, and there will be a natural shift to take advantage of its enhanced market power. So when Sievert said on Monday’s call that after the Sprint deal closes, “customers are going to the be winners,” I wouldn’t count on it. (1) Regulators have mandated that T-Mobile unload some assets to Dish Network Corp., helping set up the satellite-TV provider as a new entrant to the wireless market. But Dish is years and multiple billions of dollars away from becoming a formidable rival that can fill the hole Sprint will leave behind. It’s a weak concession that Legere was more than happy to accept.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
John Legere will step down in April in favor of Mike Seivert, a move Legere argues could help convince regulators that his successor will live up to T-Mobile’s consumer-friendly “Uncarrier” strategy.
The poster, who identified himself as David and declined to give his last name, told MarketWatch that he vented his frustrations on Reddit before going to bed on Thursday night because he was tired of seeing rave reviews from tech enthusiasts online that overlooked the fact that the Apple Card was “missing the basic functionality” of many other cards. David’s comments come three months after Apple’s hotly anticipated laser-etched, titanium card back by Goldman Sachs (GS) hit the market.
T-Mobile US Inc. Chief Executive John Legere will be stepping down at the start of May, but he told investors on a business-update call Monday that he wasn't in talks to run The We Company, parent of WeWork, contrary to rumors and reports. Legere said he was in an "awkward" position over the past few weeks given an already-planned leadership transition at T-Mobile that wasn't formally announced yet. "I was never having discussions to run WeWork and because we had this announcement pending, I couldn't say that," Legere said. He said he's been getting "a tremendous amount of input on companies that could use cultural transformation" and that "some time around May, we'll take a look at that." Chief Operating Officer Mike Sievert will be taking over as CEO on May 1. T-Mobile shares are off 1.1% in Monday morning trading. The stock has gained 21% so far this year, as the S&P 500 has risen 24%.
T-Mobile US, Inc. (TMUS) today announced that its Board of Directors has named Mike Sievert as Chief Executive Officer, effective May 1, 2020. Currently President, Chief Operating Officer and a Board Director, Sievert will assume the CEO role from John Legere after the conclusion of Legere’s contract on April 30, 2020.
Bloomberg reported that the office-sharing company may cut as many as 2,000 positions after having signaled this fall that layoffs were likely after plans for an IPO collapsed.
The change will mean Mike Sievert will lead T-Mobile US Inc., and would be top executive of a merged T-Mobile and Sprint Corp.
On Monday, the company announced T-Mobile President and chief operating officer Mike Sievert will succeed John Legere as CEO on May 1, 2020. Legere will remain on the board of the directors of the company.
T-Mobile US Inc. said Monday it has named Mike Sievert, its current chief operating officer, as chief executive effective May 1, 2020. Sievert will replace John Legere, whose contract expires on April 30 of 2020. Legere will remain on the T-Mobile board. The company is in the midst of acquiring smaller rival Sprint Corp. . T-Mobile did not disclose any future plans for Legere. The Wall Street Journal said last week that the executive was in talks to become the CEO of troubled office-sharing company WeWork, citing people familiar with the discussions. WeWork parent, The We Co., pulled its initial public offering last month amid controversy over its leadership and Chief Executive Adam Neumann subsequently stepped down. Japanese tech conglomerate Softbank Group Corp. owns a controlling stake in WeWork and also owned a majority stake in Sprint. T-Mobile shares fell 1.9% in premarket trade and are up 23% in 2019, while the S&P 500 has gained 24%.
Stocks closed in record territory Monday after reaching all-time intraday highs but pessimism about a trade agreement between the U.S. and China made investors cautious.
T-Mobile said Monday that CEO John Legere will step down next spring in a decision that follows reports he was being courted to replace co-controversial WeWork founder Adam Neumann.
T-Mobile’s John Legere is hanging up his magenta-coloured T-shirt. The flamboyant boss of America’s third-largest phone carrier will step down next May. It is a big loss. The job of overseeing T-Mobile’s pending $26bn merger with Sprint will be messy and fraught with challenges.
T-Mobile announced Monday that John Legere, who has been CEO since 2012, will be replaced by the company's President and COO Mike Sievert in May 2020. Reports swirled last week that Legere was in talks to join WeWork as CEO, after the ousting of its founder and CEO, Adam Neumann.
Nov.18 -- John Legere, the colorful chief executive of T-Mobile, will step down at the end of April. President and Chief Operating Officer Mike Sievert will take over May 1. Bloomberg Intelligence's John Butler looks at how Legere changed the industry. He appears on "What'd You Miss?"
The outspoken and sometimes outrageous CEO who reinvigorated T-Mobile US is stepping down next year. John Legere said he will remain on the company's board but will give up the chief executive's seat to his chief operating officer, Mike Sievert. The announcement comes just weeks before T-Mobile goes to trial. It's set to fight a lawsuit by state attorneys general alleging its $26 billion merger with Sprint would harm customers. Though Media reports say Legere is in talks to head the office-sharing startup, WeWork, Legere said Monday he had never been in discussions to run the troubled office-sharing startup. Reuters reports he's not a leading candidate. Moving to WeWork could create a potential conflict of interest since Legere is seeking to renegotiate the merger with Sprint. Sprint and WeWork are both controlled by Japan's SoftBank Group. The brash, shaggy-haired CEO transformed an underdog into a contender during his seven years at the helm. He loved to bash his rivals, AT&T and Verizon as he lured away their customers, growing T-Mobile into the third largest carrier and making it profitable