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Sprint’s Cowan Steps Down as President of Strategic Planning

Sprint Nextel Corp. (S) President Keith Cowan, who handled strategic planning at the third-largest U.S. wireless carrier, will be leaving the company at the end of September.

The company announced the change in a regulatory filing today, saying the decision was made on Aug. 2. Prior to joining Overland Park, Kansas-based Sprint in 2007, Cowan worked at Genuine Parts Co. (GPC) and BellSouth Corp., which was acquired by AT&T Inc. that year.

At Sprint, Cowan managed corporate development, including acquisitions and alliances. He helped the company seek a buyer for its Nextel network before Sprint abandoned a sale in 2008 in favor of revamping its technology.

Sprint shares rose 7 percent to $4.61 at the close today in New York. The stock has almost doubled in value this year.

To contact the reporter on this story: Nick Turner in New York at nturner7@bloomberg.net

To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net

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