Wednesday, September 29, 2010

Sprint Execs Resign from Clearwire Board

Daniel R. Hesse, Keith O. Cowan, and Steven L. Elfman have resigned from the Clearwire board of directors. All three are all officers of Sprint Nextel Corporation and were nominated to the Clearwire board by Sprint.

In a statement, Clearwire said it informed by Sprint that "the decisions to resign were made out of an abundance of caution to address questions raised by Clearwire regarding new developments in antitrust law. Clearwire's board structure allows for 13 members, seven of which Sprint has the right to appoint. The remaining four Sprint appointees to the Clearwire board are unchanged, and Sprint reserved the right to appoint new members to the Clearwire board at a later date."

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