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Fared Adib, senior Sprint executive, departing: memo

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[March 03, 2014]  By James B. Kelleher and Carey Gillam

(Reuters)  Another senior executive is leaving Sprint Corp, the U.S. wireless company that has seen several key leaders exit since it was acquired last year by Japan's SoftBank Corp (9984.T).

Fared Adib, a 12-year veteran of Sprint who was tapped by SoftBank to lead a new initiative last fall, has resigned from the Overland Park, Kansas-based company, according to an internal memo obtained by Reuters.

"Fared has been serving on assignment as a senior executive with Sprint, SoftBank and Brightstar to explore the possibility of establishing a new buying entity," the memo said.

"Having completed that assignment, Fared has decided to take this as an opportunity to pursue the next challenge. We look forward to hearing more about his plans in the near future."

David Owens, an executive in Sprint's product development unit, will succeed Adib, according to the memo.

Sprint did not respond to multiple calls and e-mails seeking comment.

Adib joined Sprint in 2002 and served in several positions. In 2008, he was named senior vice president of product development and operations where he oversaw several important product launches, including the introduction of the original EVO, the iPhone, and 4G LTE devices.

He could not be immediately reached for comment on Saturday.

Although executives at SoftBank, a Japanese telecommunications company, insist their post-acquisition priority is to bolster Sprint's wireless service, not to implement any sweeping personnel change, a number of top executives have left the U.S. company since the $21.6 billion deal was approved last year.

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In October, Sprint announced the departure of its chief sales officer and the retirement of its chief marketing officer.

SoftBank's billionaire chief executive, Masayoshi Son, has repeatedly expressed his desire to make his company the biggest mobile-related corporation in the world and has said additional consolidation of the U.S. market is necessary.

Soon after SoftBank's purchase of Sprint closed last summer, the Japanese company entered talks to buy T-Mobile US Inc, according to sources familiar with the matter.

(Editing by Cynthia Osterman)

[ 2014 Thomson Reuters. All rights reserved.]

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