SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 18, 2003
SPRINT CORPORATION
(Exact name of Registrant as specified in its charter)
Kansas 1-04721 48-0457967
(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
6200 Sprint Parkway, Overland Park, Kansas 66251
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code(913) 624-3000
(Former name or former address, if changed since last report)
P. O. Box 11315, Kansas City, Missouri 64112
(Mailing address of principal executive offices)
Item 5. Other Events.
On March 18, 2003, the registrant ("Sprint") announced that Gary D. Forsee,
formerly Vice Chairman of BellSouth Corporation, would become Chief Executive
Officer of Sprint and a member of its board of directors effective March 19,
2003. Mr. Forsee succeeds William T. Esrey as Chief Executive Officer. The press
release was as follows:
Sprint Names Gary Forsee Chief Executive Officer
Overland Park, Kan. - March 18, 2003 - Sprint (NYSE: FON, PCS), a leader in
integrated local, long-distance and wireless telecommunications, today announced
that Gary D. Forsee will become chief executive officer of the company and a
member of its board of directors, effective March 19.
Forsee, 52, succeeds William T. Esrey, who will continue in his role as Sprint's
chairman during a transition period.
Forsee has spent more than 30 years in the telecommunications industry. Most
recently, he served as vice chairman of BellSouth Corporation where he had
responsibility for the company's domestic operations. Before that, Forsee spent
10 years with Sprint, holding leadership positions in the company's long-
distance and PCS operations, and one year with Global One, a joint venture of
Sprint, Deutsche Telekom and France Telecom, where he served as president and
CEO.
"Gary is a proven leader and will do an excellent job heading Sprint," said
Esrey. "He has a broad background of telecommunications experience that includes
leading wireline, wireless and international operations. I am confident he will
build on Sprint's strong foundation and further advance Sprint's position in the
marketplace. We welcome him home."
"It is a pleasure to be a part of this great company again," Forsee said.
"Sprint has an impressive heritage of innovation and customer service. When you
combine that with the company's strong financial position and enviable set of
assets, you quickly realize the incredible potential Sprint possesses."
"Replacing Bill Esrey as CEO will be a huge task," added Forsee. "He transformed
Sprint from being primarily a rural local telephone company to becoming a leader
in local, long-distance and wireless communications - a truly remarkable record
of achievement. We want to build on what Bill, along with Ron LeMay and many
others have created, and take Sprint to new heights. I firmly believe we can and
will make it happen because that's what Sprint has always been about - achieving
what others thought couldn't be done. I am eager to be part of that spirit and
attitude again."
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Judge William Webster, who served as the arbitrator in a suit brought by
BellSouth and Cingular against Forsee, today issued conditions that Forsee is to
follow to protect BellSouth's and Cingular's confidential information. Sprint's
board said the conditions contained in the ruling are acceptable.
Background on Forsee
Before accepting his new position at Sprint, Forsee was vice chairman of
BellSouth Corporation where he had responsibility for BellSouth's domestic
operations. Upon joining BellSouth in September 1999, he managed staff functions
throughout the corporation and subsequently served as president of BellSouth
International.
Before joining BellSouth, Forsee spent ten years with Sprint and one year with
Global One, a joint venture of Sprint, Deutsche Telekom and France Telecom. In
December 1989, Forsee joined Sprint as vice president and general manager of the
Government Systems Division. He subsequently served as president-Government
Systems and president-Business Services Group from February 1991 to February
1993. Following these assignments, he was senior vice president of staff
operations for the Long Distance Division. After serving as interim chief
executive officer of Sprint's wireless venture, now the company's PCS Division,
and leading the company's bidding activity during the PCS auctions, he became
the Long Distance Division's president and chief operating officer in March
1995. In February 1998, Forsee assumed the position of president and chief
executive officer of Global One. Forsee resigned from Global One in July 1999.
Prior to joining Sprint in 1989, Forsee was with AT&T and Southwestern Bell for
almost 18 years. The position he held prior to moving to Sprint was vice
president of government sales and programs in AT&T's Federal Systems division.
Forsee holds a bachelor's degree in engineering from the University of Missouri
at Rolla. He presently serves as chairman of the National Board of Trustees of
the March of Dimes and is on the University of Missouri-Rolla Engineering School
Advisory Council. He also is a member of the board of the Goodyear Tire & Rubber
Co.
About Sprint
Sprint is a global communications company serving more than 26 million business
and residential customers in over 70 countries. With approximately 72,000
employees worldwide and nearly $27 billion in annual revenues, Sprint is widely
recognized for developing, engineering and deploying state-of-the-art network
technologies, including the United States' first nationwide all-digital,
fiber-optic network and an award-winning Tier 1 Internet backbone. Sprint
provides local voice and data services in 18 states and operates the largest
100-percent digital, nationwide PCS wireless network in the United States.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
SPRINT CORPORATION
Date: March 19, 2003 By: /s/ Michael T. Hyde
Michael T. Hyde
Assistant Secretary
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