Clearwire Loses Select Sprint Board Members
Here's a surprise: Dan Hesse, the CEO of Sprint, is no long on the board
of directors for Clearwire, despite the fact that Sprint is the major
pusher of Clearwire's 4G WiMAX services. Clearwire as a whole lost
Daniel R. Hesse, Keith O. Cowan, and Steven L. Elfman, with all three
resigning from the company's board of directors this week.
The reason why? "Clearwire was informed by Sprint that the decisions to resign were made out of an abundance of caution to address questions raised by Clearwire regarding new developments in antitrust law." In other words, nothing has gone wrong yet, but it may have been close. Clearwire's board structure allows for 13 members, seven of which Sprint has the right to appoint. The remaining four Sprint appointees to the Clearwire board are unchanged, and Sprint reserved the right to appoint new members to the Clearwire board at a later date.
It's unclear who will take their place just yet, nor what the real underlying reason was for their departure. We don't expect any of the shakeups to have any impact on Sprint or Clearwire services, and we fully expect Sprint to continue selling WiMAX from Clearwire. But it certainly raises questions about how close partners are allowed to be; recently, Apple, Intel, Adobe and other tech firms were forced to stop anti-competitive hiring practices in Silicon Valley.
The reason why? "Clearwire was informed by Sprint that the decisions to resign were made out of an abundance of caution to address questions raised by Clearwire regarding new developments in antitrust law." In other words, nothing has gone wrong yet, but it may have been close. Clearwire's board structure allows for 13 members, seven of which Sprint has the right to appoint. The remaining four Sprint appointees to the Clearwire board are unchanged, and Sprint reserved the right to appoint new members to the Clearwire board at a later date.
It's unclear who will take their place just yet, nor what the real underlying reason was for their departure. We don't expect any of the shakeups to have any impact on Sprint or Clearwire services, and we fully expect Sprint to continue selling WiMAX from Clearwire. But it certainly raises questions about how close partners are allowed to be; recently, Apple, Intel, Adobe and other tech firms were forced to stop anti-competitive hiring practices in Silicon Valley.
Clearwire Announces Changes to Board of Directors
KIRKLAND, Wash., Sep 30, 2010 (BUSINESS WIRE) --
Clearwire Corporation (NASDAQ: CLWR), a leading provider of wireless broadband services and operator of the largest 4G network in the country, today announced that Daniel R. Hesse, Keith O. Cowan, and Steven L. Elfman have resigned from the Clearwire board of directors. Hesse, Cowan and Elfman are all officers of Sprint Nextel Corporation and were nominated to the Clearwire board by Sprint.
Clearwire was informed by Sprint that the decisions to resign were made out of an abundance of caution to address questions raised by Clearwire regarding new developments in antitrust law. Clearwire's board structure allows for 13 members, seven of which Sprint has the right to appoint. The remaining four Sprint appointees to the Clearwire board are unchanged, and Sprint reserved the right to appoint new members to the Clearwire board at a later date.
About Clearwire
Clearwire Corporation (NASDAQ:CLWR), through its operating subsidiaries, is a leading provider of wireless broadband services. Clearwire's 4G network is currently available in areas of the U.S. where approximately 66 million people live and the company plans to continue to expand its 4G coverage. Clearwire's open all-IP network, combined with significant spectrum holdings, provides an unprecedented combination of speed and mobility to deliver next generation broadband access. The company markets its 4G service through its own brand called CLEAR(R) as well as through its wholesale relationships with Sprint, Comcast and Time Warner Cable. Strategic investors include Intel Capital, Comcast, Sprint, Google, Time Warner Cable, and Bright House Networks. Clearwire is headquartered in Kirkland, Wash. Additional information is available at http://www.clearwire.com.
