OVERLAND PARK, Kan.- Gary Forsee, Sprint Corp.’s recently named president and chief executive officer, outlined his plans and priorities for the company during Sprint’s annual shareholders meeting this week.
Forsee said his top five priorities for Sprint include growing top-line revenues at multiples of the market; improving customer service and satisfaction in all of Sprint’s business units; protecting and improving Sprint’s bottom-line result; developing a culture of winning at Sprint; and further building the Sprint brand.
As part of his plans to expand sales, Forsee highlighted the need to increase sales penetration into Sprint’s existing customer base.
“Selling into our existing base of PCS, local and long-distance customers is a powerful recipe for revenue growth,” Forsee explained. “We’ve already had notable success in offering bundled products.”
Sprint reported 49 percent of its residential local customers subscribe to its long-distance service; 30 percent of Sprint’s long-distance customers are also signed up for its wireless service; and about 18 percent of Sprint PCS customers also buy long distance service from Sprint.
Forsee also addressed investor’s concerns about the possible recombination of the company’s wireline and wireless tracking stocks, which financial analysts have expected the company to implement for some time.
“The short answer is, we have not made any decisions in this area, but we do believe a recombination of the stocks is likely at some point,” Forsee said.
In addition to Forsee’s comments, Sprint’s shareholders approved the rehiring of Ernst & Young as the company’s auditors despite allegations that the firm established tax shelters that helped former Sprint executives, including William Esrey, recently retired chairman and CEO, and Ronald LeMay, former president, avoid paying taxes on more than $100 million in stock option gains.
