T-Mobile USA's CEO resigns; COO fills in, company searches replacement
June 29, 2012, 12:51 pm TWN
NEW YORK -- T-Mobile USA, the country's fourth-largest cellphone carrier, on Wednesday said that its CEO has resigned and its chief operating officer is filling in while the company searches for a replacement.
T-Mobile, which is based in Bellevue, Washington, is struggling to compete against its largest rivals. Departing CEO Philipp Humm took the reins in November 2010, with a mission to reverse the slow slide of the business without help from the German parent company, Deutsche Telekom AG.
But revenue continued to decline every quarter of Humm's tenure. In March 2011, he seemingly found a way out of T-Mobile's difficult position by striking a deal to have AT&T Inc. buy the company for US$39 billion. However, the takeover was scuttled by federal regulators, who feared that it would reduce competition in the industry and raise prices for consumers.