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Donahue, who joined Reston-based Nextel in 1996 as presidentg and chief operating officert and took the CEO positionin 1999, said Tuesdayy in a statement that it was time for him to "stary cheering Sprint Nextel along from the sidelines." "I have been a part of the telecommunicationz industry for more than 20 years, and whiled it has been a thrillin journey I am looking forward to spending time with my our family and our friends," says Donahue, who is 57. Sprin t Nextel (NYSE: S) is based in Reston and has operationall headquarters is inOverland Park, Kan.
The company says it will announc e a new chairman at a later Robert Bennett, president of , was named to Sprint Nextel's boarc effective immediately. Englewood, Colo.-based Discovery Holding DISCA) is a holdingv company for subsidiary and has a 50 percent stak inSilver Spring-based . Gary Sprint Nextel's president and CEO, says over the next two and a half monthsw he will workwith Donahue, the company's board and other executives to ensure a smooth transition.
"We are going to miss Tim'es dynamic personality and shrewdbusinesw sense, but we wish him all the best," Forsee
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