TOKYO-Two former Sprint Corp. executives have been named to the board of Japan Telecom Co.
William Esrey, former Sprint chief executive officer, has been named chairman of the board, and Ronald LeMay, former Sprint chief operating officer, has been named a director on the board by Ripplewood Holdings, a U.S. investment fund that is completing a $2.3 billion leveraged buyout of Japan Telecom.
The former Sprint executives are being audited for using questionable tax shelters while at Sprint but have denied that any improprieties led to their departure from the U.S. carrier. Esrey and LeMay left Sprint earlier this year after both were accused of using tax shelters to hide $123 million in taxes on their earnings and stock options.
“Bill and Ron amassed a proven track record and are widely considered to be among the most innovative, creative and effective marketing executives in their field,” said Ripplewood Chief Executive Tim Collins.
