Sprint Restructures Business Divisions

Sprint Nextel Corp. (NYSE:S) is integrating its business and consumer units as part of an overall reorganization effort that has four executives leaving the company.

According to a letter sent Friday to employees by the wireless operator’s chief executive Dan Hesse, the company is merging all business and consumer sales operations under Chief Sales Officer Paget Alves and all marketing functions under Chief Marketing Officer Bill Malloy. As a result, four Sprint executives in consumer marketing, consumer services, integrated solutions and corporate development and spectrum will leave in early February, Hesse said in the memo.

The news comes after CEO Dan Hesse announced last week at the annual Citigroup Entertainment, Media and Telecommunications Conference that customers in Dallas, Atlanta, Houston and San Antonio are expected to be among the first to benefit from 4G LTE and improved 3G coverage in the first half of 2012.

Bob Azzi, senior vice president, said: “With advanced smartphones and sophisticated wireless modems, our customers are using more and more mobile data, and one of our top priorities is to provide the best technology possible to improve our customers’ experience.”

Here’s how Sprint shares recently traded:

Sprint Nextel Corp. (NYSE:S): S shares recently traded at $2.19,. They have traded in a 52-week range of $2.10 to $6.45. Volume today was 66,920 shares versus a 3-month average volume of 52,985,700 shares. The company’s trailing earnings are $-0.84 per share.

To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com