The big picture: The close of the merger also signals a shift in leadership as longtime T-Mobile CEO John Legere has stepped aside, ceding the helm to Mike Sievert. Legere took the reins in 2012 and served as the public face of the un-carrier movement, reshaping the entire industry time and again with unprecedented offers that the competition had no choice but to mimic. Few have been able to change an industry so dramatically in such a short amount of time.
T-Mobile on Wednesday officially completed its merger with Sprint to create the New T-Mobile, a third mega carrier that is better positioned to compete with heavyweights Verizon and AT&T for customers in the US.
The combined company will operate under the name T-Mobile and continue to trade on the NASDAQ under the symbol TMUS.
T-Mobile said Legere would continue as a member of the board through the remainder of his current term which expires in June.
The executive hasn’t announced what his next step will be although at just 61 years of age and with a wealth of experience and wisdom in hand, he’s sure to be a hot commodity on the open market should he want to further his resume.
While T-Mobile is likely sad to see Legere exit, the company is no doubt thrilled that its merger with Sprint is finally complete. Getting to this point was no easy task as several hurdles had to be overcome and many concessions granted but alas, it has finally happened.