Sprint Execs Resign From Clearwire Board

Citing new anti-trust rules, 4G broadband provider Clearwire (NSDQ: CLWR) says that three Sprint (NYSE: S) executives are leaving its board. The departing trio are Sprint CEO Dan Hesse along with Keith Cowan, president of strategy and corporate initiatives, and Steven Elfman, president network operations. In its statement, Clearwire said it was told by Sprint that the decisions to resign were made out of an “abundance of caution” in response to new developments in antitrust law. Clearwire’s board structure allows for 13 members, seven of which Sprint has the right to appoint. The remaining four Sprint appointees to the Clearwire board are unchanged, and Sprint still has the right to appoint new members to the Clearwire board at a later date.

Sprint said the “caution” was triggered by Clearwire’s questions about new anti-trust rules, though the company’s statement didn’t specify what the rules were.

Earlier this month, Sprint