Sprint Corp. named a new finance chief in the biggest management shake-up under Chief Executive Officer Marcelo Claure, who’s now almost a year into his attempt to turn around the phone carrier.
Tarek Robbiati will become CFO, replacing Joseph Euteneuer, who will leave following a transition period, Sprint said Monday in a statement. Robbiati, 50, most recently was managing director and CEO at FlexiGroup Ltd., an Australian consumer finance company specializing in leasing.
Since he was hired by majority owner SoftBank Group Corp. last August, Claure was able to reverse years of customer losses with half-price offers and tablet promotions. The focus on bargain hunters, however, has taken a toll on profitability, and it underscores the challenges Sprint faces as rival T-Mobile US Inc. continues to attract users.
The new CFO is joining a company that has posted a net loss in five of the past six quarters.