T-Mobile President and COO Mike Sievert will succeed John Legere as CEO on May 1, 2020, the company announced Monday.
T-Mobile shares were down about 1.7% in premarket trading after the news.  Sievert has been the heiress when Doctors expected to resign as CEO when T-Mobil's merger with Sprint is completed. Doctors' contract ends April 30, 2020, according to the announcement. Doctors tweeted Monday that the decision "has been under development for a long time."
CNBC's David Faber reported in July that Sievert expected to take over as CEO when the deal was terminated. The $ 26 billion deal has removed important barriers at the federal level, but still faces a legal challenge from a team of state attorneys who want to block the deal. The case will go to trial next month.
When T-Mobile and Sprint first announced their intention to merge in April 201[ads1]8, the companies said that Doctors would lead the overall business as CEO, with Sievert continuing to serve as president and COO.
Doctors' next move is still unknown. CNBC and The Wall Street Journal reported last week that WeWork has talked to him about taking over as CEO after Adam Neumann's radiation. But CNBC later reported that Doctors are not taking the job, according to people familiar with the matter.
Doctors were named T-Mobil's CEO in 2012 and made a series of aggressive moves to expand the company's wireless subscribers when faced with fierce competition from its major rivals, AT&T and Verizon. When other carriers pushed customers to sign up for wireless plans with data caps, Doctors created unlimited wireless plans for T-Mobile and offered to pay termination fees for switched customers. Eventually, the rest of the industry followed suit and offered unlimited plans as well.
Doctors were also responsible for bringing the iPhone to T-Mobile for the first time. And he went through several merger talks with Sprint over the years, before finally locking down the deal in April 2018. The company expects to complete the merger next year.