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T-Mobile (TMUS) CEO Mike Sievert says he isn't going anywhere yet.
German news publication Handelsblatt reported earlier this month that Sievert, who also sits on the board of coffee giant Starbucks (SBUX), was eyeing an exit before his contract is up in April 2028.
"Well, I haven't made any decisions about that, and I hope that's the case," Sievert told Yahoo Finance when asked if he would still be leading the telecom behemoth a year from now (video above). T-Mobile recently appointed telecom industry veteran Srini Gopalan as COO, fueling speculation on Sievert's timeline as CEO. Gopalan had been a member of T-Mobile's board for four years.
Sievert added, "We did recruit Srini with the idea of succession planning in mind, and I would tell you that any business should be thinking about these things. That's not bad news. That's good news. You know, every big move I make in the people arena is about making sure that the secret sauce of this company is here for the long run and will outlive any of us."
However, the hire doesn't reflect any decision by Sievert about stepping away, he added.
Sievert took over as CEO from the highly energetic T-Mobile frontman John Legere in April 2020.
He has led not only the successful integration of Sprint, which T-Mobile purchased for $23 billion in 2020, but also a reinvention of the business and a steady stream of better-than-expected quarters.
T-Mobile spent $1.35 billion to acquire Ryan Reynolds' Mint Mobile in May 2024, giving the company access to more value-conscious phone plan shoppers.
The company has also closed deals for fiber-optic plays Metronet ($4.9 billion), US Cellular ($4.4 billion), and Lumos ($950 million).
It said late Monday 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. Verizon is down by 19% during that same timespan.
Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.
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