T-Mobile CEO John Legere speaks on the floor of the New York Stock Exchange, April 30, 2018.
Brendan McDermid | Reuters
The transition comes ahead of schedule, with President and COO Mike Sievert taking over as CEO effective immediately.
The company announced the planned transition late last year, but said it would occur on May 1, 2020. Legere had long been expected to cede the role after the $26 billion merger closed after clearing regulatory hurdles. CNBC’s David Faber reported in July that Sievert was expected to takeover at the close of the deal.
Legere ushered the Sprint merger through a series of challenges, including a lawsuit from a group of state attorneys general seeking to block the deal after the Department of Justice and Federal Communications Commission cleared it with certain concessions. The states argued the deal would limit options for consumers and ultimately raise prices. The companies said the merger would allow a flailing Sprint to become part of a stronger T-Mobile that could take on the top two U.S. telecom companies and expand 5G network service. A judge ruled in favor of allowing the deal to clear in February.
Legere made several other aggressive moves to secure T-Mobile’s role among top competitors AT&T and Verizon since becoming CEO in 2012. He created the company’s signature unlimited wireless plan and offered to pay termination fees for customers who switched to the service. Other carriers ultimately adopted the same strategy. Legere also brought Apple‘s iPhone to T-Mobile for the first time.
Legere will remain on the board of directors for the remainder of his term through the annual shareholders meeting in June, the company said.