Sprint Marcelo Claure Named Chief Operating Officer After T-Mobile Acquisition
Following T-Mobile and Sprint’s merger, Marcelo Claure has been appointed as the Chief Operating Officer of the newly formed company. Claure, who was a top executive at Sprint, has played a pivotal role in negotiating the merger deal between Sprint and T-Mobile. 47-year-oldClaure, will now become executive chairman at Sprint and handover the Chief Executive post to Michel Combes who is currently the CFO. Claure will continue working on the merger deal and try to close it as it still faces a challenging regulatory evaluation in Washington. Moreover, at SoftBankClaure will be working with Masayoshi’s Son in the capacity of COO and try to improve the company’s portfolio. The bank has used cash from its operations to acquire stakes in Yahoo Japan, Alibaba Group and Sprint.
Softbank has also set up the biggest technology investment fund and has made notable investments in diversified startups. Some of the startups that the company has made investments in include, Uber, Didi and Flipkart. Claure has said that his priority is to complete the T-Mobile and Sprint deal. He said once the deal is concluded he will then work with Softbank companies on their operations and strategy.
In a statement Claure said that he wants to work with startups and grow them into big companies. 47 year oldClaure has spent most of his childhood living in Bolivia. He embarked on business career very early during his life. When he was only 10 years old, he used to sell clothes outside his mother’s house in Bolivia. While he was studying in Massachusetts, he sued to sell frequent flier miles to make money and fund his university fees.
In 1997, Claure started his own cellphone distribution company named Brightstar Corp. He grew the company and converted it into a logistics provider for retailers, corporate customers and carriers. In 2013, Softbank acquired a big stake in Brightstar worth $1.26 billion. Softbank later acquired the company completely. Sprint has been struggling in the U.S. and has been losing its share to rivals such as Verizon and AT&T. However, Softbank and Claure claim that the company has made progresses in recent years.