KANSAS CITY, Mo.-Sprint Corp. announced Dennis Foster will become president and chief executive officer of Sprint Cellular and Frank Reed will become nonmanagement chairman of the unit after its expected spinoff from Sprint early this year.
Foster has been president and chief operating officer of Sprint Cellular since March 1993 and joined Sprint in 1992 as senior vice president of operations for the corporation’s local telecommunications division. Prior to joining Sprint, Foster served as president of GTE Mobilnet, a wholly owned cellular subsidiary of GTE Corp.
“In the nearly three years he has been president of Sprint Cellular, the unit has tripled its number of customers to more than 1.3 million and revenues have more than doubled to over $800 million,” said Sprint Chairman William Esrey.
Reed is a member of Sprint’s board of directors and previously was president and CEO of CoreStates Philadelphia National Bank.
The proposed spinoff of the cellular division is subject to a favorable ruling on the tax-free nature of the spinoff, regulatory and other government approvals and approval of the Sprint board of directors, Sprint said.
