Sprint Hires Cost-Cutter Combes in Sign of Coming Tough Slog
- The industry veteran resigned as Altice CEO in November
- His hire does little to placate investors as shares plunge
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Sprint Corp. is signaling tough times lie ahead.
The telecommunications company hired industry veteran Michel Combes, known as a cost-cutter, as president and chief financial officer to help revive the telecommunications company still reeling from the collapse of deal talks with T-Mobile US Inc. in November. Sprint shares plunged as as much as 6.8 percent, the most intraday since the end of the T-Mobile negotiations.