Sprint sign

There were murmurs that Sprint was about to shake up its leadership, and today it's official. The carrier has named Marcelo Claure, the head of wireless distributor Brightstar, as its new President and CEO. He'll take over from Dan Hesse on August 11th. The company doesn't have a direct explanation for the change, but it does allude to refocusing now that its attempt to buy T-Mobile has gone awry; while it would prefer "industry consolidation," it's only concerned with self-improvement in the short term. How Claure will fare isn't certain. He's known for his entrepreneurial skills and has been involved with Sprint's board for months, but this will be his first time running a provider. He'll have to get up to speed quickly if he wants to reverse the company's ailing fortunes.

[Image credit: AFP/Getty Images]