Softbank founder and CEO Masayoshi Son on Tuesday announced sweeping changes for subsidiary Sprint. President and CEO Dan Hesse is being replaced by Marcelo Claure, founder and CEO of Softbank subsidiary Brightstar, effective Aug. 11. Also, Sprint has dropped plans to purchase T-Mobile. Hesse’s replacement was expected, as Sprint has been hemorrhaging customers and piling up losses for some time. While being crushed at the top by Verizon and AT&T, it has lately been taking kicks in the shins on the low end by a feisty T-Mobile.
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