Embarq CEO Sees More Telecom M&A
The telecom industry is “relatively inefficient,” said Embarq Chief Executive Dan Hesse. he joined “Power Lunch” to talk about the future for his company and the sector.
Mergers and acquisitions have rocked the industry, and Embarq, a spinoff of Sprint Nextel, is set to become a “growth company organically in 2009.” Currently, the company shares are up some 50% from a year ago.
Hesse explained that the stock price is up due to better operating performance: “We’re slowing down the losses… and we’re doing that by focusing on innovation.”
And client retention is a top priority: “We’re slowing defection by focusing on customer service,” Hesse said. Embarq has 50 retail outlets and a “stronger online presence.”