T-Mobile CEO Mike Sievert Reiterates Commitment to Leading the Telecom Giant Despite Rumors of Early Departure
T-Mobile (TMUS) CEO Mike Sievert has recently addressed rumors that he may be planning to leave the company before his contract expires in April 2028. In an interview with Yahoo Finance, Sievert said that he has not made any decisions about his future at the company and hopes to continue leading the telecom giant for the foreseeable future.
German news publication Handelsblatt had earlier reported that Sievert, who also sits on the board of coffee giant Starbucks (SBUX), was considering an exit from T-Mobile. However, Sievert told Yahoo Finance that he has not made any decisions about his future and hopes to continue leading the company.
T-Mobile recently appointed telecom industry veteran Srini Gopalan as COO, which has fueled speculation about Sievert's timeline as CEO. However, Sievert clarified that the hire does not reflect any decision by him to step away from the company.
Sievert took over as CEO from John Legere in April 2020 and has led the successful integration of Sprint, which T-Mobile purchased for $23 billion in 2020. He has also been instrumental in the company's steady stream of better-than-expected quarters and its acquisition of Ryan Reynolds' Mint Mobile for $1.35 billion in May 2024.
In addition to these achievements, T-Mobile has also closed deals for fiber-optic plays Metronet ($4.9 billion), US Cellular ($4.4 billion), and Lumos ($950 million). The company also announced on Monday that it would begin its service with Elon Musk's Starlink satellite business on July 23, helping to close dead zones for cell service in the country.
Shares of T-Mobile are up about 176% under Sievert's watch, compared to a 25% gain for AT&T and a 19% decline for Verizon during the same period.
In conclusion, T-Mobile CEO Mike Sievert has not made any decisions about his future at the company and hopes to continue leading the telecom giant for the foreseeable future. The recent appointment of Srini Gopalan as COO does not reflect any decision by Sievert to step away from the company.
