We’re always into finding some buzz from these big companies we always hear about and it looks like we got something. Sprint - Nextel’s (NYSE:S) CEO, Gary Forsee is no longer with the company after resigning from the top position without even using an lie excuse.

Gary Forsee has been under the eye for some time now, because the company was “quietly” looking to replace him since August. Apparently a few investors were a little bit unhappy with the latest acquisitions (Nextel and WiMAX) that never confirmed and with the lousy results for the last year. Sprint never managed to catch Verizon (NYSE:VZ) or AT&T (NYSE:T) in sales, staying calmly on the 3rd place after losing about 337,000 contract subscribers in the third quarter.

Sprint announced that until December, when a new CEO is supposed to arrive, the interim will be realized by CFO Paul Saleh and James Hance, Jr.  as acting chairman. and that the new CEO that will take over the management, will not be from within the company. I guess those head hunters will have something to do now.

The stock price dropped by 51 cents after the news was confirmed, sending the company down to $18.50 a two-year low.

Filed under Business
Tags: CEO, Gary Foresee, Nextel, resigns, Sprint, Sprint-Nextel