Article originally appeared in Entrepreneur online. Article reviews the inspirational stories of 10 CEOs who revitalized their companies. Published February 2013.
When Dan Hesse took over the role of Sprint's CEO in 2007, the company was in a freefall, reporting losses of $29.6 billion after a merger with Nextel Communications. Hesse implemented Sprint's new "Simply Everything" rate plan in 2008.
In 2008, Sprint lost 5.1 million subscribers and wireless revenue fell by $3.1 billion, but the company, which had been last in customer satisfaction surveys, was scoring higher on its customer service ratings. In 2009, Sprint acquired Virgin Mobile USA and moved into the prepaid market. By 2010, Sprint had returned to positive subscriber growth for the first time in three years. Hesse continues to serve as CEO. In 2012, Sprint reported revenue of $35.3 billion, an increase over 2011's revenue of $33.7 billion.