on Friday filed an amended employment agreement for its finance chief that spells out a plan for him to leave the company as it awaits regulatory review of a proposed merger with rival
CFO Braxton Carter has been a key figure in the mobile carrier’s pending deal to buy Sprint. A spokeswoman for T-Mobile declined to comment on whether a successor had been chosen.
Mr. Carter’s last day at T-Mobile will be decided by the status of the merger, the company said in a regulatory filing with the Securities and Exchange Commission. Mr. Carter is scheduled to leave at one of three fixed dates, depending which arrives first: the end of 2019; 20 days after the first quarterly filing of the merged company; or 20 days after an announcement the deal is off.
Analysts speculated about the departure of Mr. Carter in September, when T-Mobile said Sunit Patel would join the company to lead its expected integration with Sprint. Mr. Patel had been chief financial officer at CenturyLink Inc.
“We believe this offers an interesting read through for the future of current TMUS CFO Braxton Carter,” analysts at Wells Fargo Securities wrote of the hire in a Sept. 25 note. “Language in the merger documents led us to believe Carter may retire post the close of the merger.”
Last year, T-Mobile announced a $26 billion deal to buy Sprint. The combined company would be called T-Mobile and would be run by T-Mobile CEO John Legere. It is the third time in recent years the two rivals have attempted the combination.
In 2017, Sprint and T-Mobile entered merger negotiations but walked away after the companies failed to agree on who would control the combined company, people familiar with the matter told The Wall Street Journal at the time. SoftBank Group controls 83% of Sprint. Germany’s
owns 62% of T-Mobile.
If the merger is successful, the resulting company would create a wireless carrier that could challenge
which reported about 118 million wireless customers at the end of 2018.
The amended employment agreement increases Mr. Carter’s base salary to $950,000, among other changes to his compensation. Mr. Carter has been CFO since April 2013. Previously, he was CFO for MetroPCS Communications Inc. beginning on March 2005 until it was acquired by T-Mobile US in 2013.
T-Mobile disclosed details of the contract after the close of regular trading on the
Shares of the company closed at $69.10, down 0.07%.
—Drew FitzGerald, Dana Cimilluca and Dana Mattioli contributed to this article.
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