Activist shareholder wins board seat at Sprint Nextel
Kudos to Sprint Nextel for awarding a board seat to activist investor Ralph Whitworth.
Whitworth, who’s firm owns almost 2% of Sprint Nextel, has a history of agitating for change and promoting asset sales to increase shareholder value.
Sprint Nextel appears ripe for this kind of improvement. The split headquarters is a dreadful situation, a decision suffering from paralysis by analysis. And nothing close to genius has emanated from either this company or its original parents since Sprint fortuitously aborted its merger with MCI Worldcom way back in 2000. Thus, Sprint Nextel has seen its stock value decrease by more than half in the last year.
Perfect marriage. For more, read here.
