(Associated Press via NewsEdge) Sprint Nextel's chief operating officer left the company and will not be replaced.
Len Lauer had been with the company since 1998. He became president and chief operating officer of Sprint in September 2003 and became COO of Sprint Nextel after the August 2005 merger created the new company.
Lauer had been running Sprint Nextel operations in Overland Park, where Sprint was headquartered before the merger.
The company said that Gary Forsee, Sprint Nextel's president and CEO, will take over Lauer's operating responsibilities.
'Len has been an important part of the Sprint team for the past eight years and provided strong leadership and counsel,' Forsee said. 'We thank him for his many contributions and wish him well.'
Earlier this month, Sprint Nextel reported a 38% drop in quarterly earnings. A week after that, the company agreed to pay almost $29 million to settle a class-action lawsuit filed by current and former employees who claimed their retirement accounts were degraded by being tied to the company's stock.
'The decision behind the change was made as the company seeks to accelerate the pace of our transition and improve operational execution,' spokesman David Gunasegaram said.
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