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Investing.com -- T-Mobile US Inc (NASDAQ:TMUS) stock dropped 1% in premarket trading following the announcement that CEO Mike Sievert is stepping down from his position.
The wireless carrier named Srini Gopalan as its new chief executive officer to lead the company’s "next era of growth and digital-first transformation." Sievert, who has been appointed Vice Chairman of the company and its board, will continue to serve on the management team in an advisory capacity focused on strategy, innovation, talent development, and external relations.
The leadership change comes as part of what the company described as a "well-established succession planning process" led by Sievert and the Board of Directors. During Sievert’s tenure, T-Mobile delivered record growth and strong financial performance, with the company calling him "the most value-creating CEO in global telecom history."
T-Mobile indicated that Gopalan will continue the company’s "Un-carrier" strategy, which focuses on reinventing customer experiences, gaining market share in wireless and broadband services, and maintaining what it describes as "America’s best network with the best value."
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