Pension Plan investor criticizes Dan Hesse; Sprint's board still supports CEO
Some investors have been vocal with their criticism of Hesse. According to Monday's Wall Street Journal, Dragos Stefanescu, a director for the Ontario Teachers’ Pension Plan, criticized Sprint's complicated network plans at a lunch meeting in Boston last year. Meanwhile, sources for the WSJ say that the carrier's board still has Hesse's back although they still will second guess him when necessary. This was the case with the alleged offer by Sprint to buy MetroPCS for $8 billion. The speculation is that Hesse had signed off on the purchase and was all set to make the announcement when the Board decided not to move ahead with the deal.
According to the Journal, Hesse has started comparing his efforts to turn Sprint around to to Ernest Shackleton’s struggle to keep his crew in Antartica alive about 100 years ago. This might not have been the best of choices for Hesse to use as a comparison because while Shackleton and his crew managed to survive, they never met their goal of reaching the South Pole. Not a good sign for the beleaguered executive trying to turn around the carrier.
source: WSJ (subscription req'd) via BGR