Sprint CEO Forsee under pressure - report
Activist investor Ralph Whitworth tells newspaper he has 'lost confidence' in the wireless carrier's chief executive.
LONDON (CNNMoney.com) -- Sprint Nextel CEO Gary Forsee is feeling the pressure from activist investor Ralph Whitworth, according to a published report.
Whitworth, whose Relational Investors owns about 2 percent of Sprint's (Charts, Fortune 500) outstanding shares, told the Wall Street Journal he has "lost confidence" in Forsee and the company's other board directors.
The activist investor isn't calling for Forsee to step down but expressed concern about the company's strategy, the newspaper said.
Among Whitworth's concerns are Sprint's investment in WiMax, a new wireless-broadband technology, the report said. He also thinks the company hasn't paid enough attention to its cell-phone business and is pushing Sprint to sell some of its units, the Journal said.
Whitworth has successfully pushed for change at other firms. He played a big role in bringing about Robert Nardelli's exit at Home Depot (Charts, Fortune 500) and helped push out Sovereign Bancorp (Charts, Fortune 500) CEO Jay Sidhu, the report said.