Sprint Nextel has a new CEO to replace Gary Forsee, who exited the company in October. Dan Hesse, former CEO of Embarq, a local phone company that Sprint spun out last year, will take the post. Hesse previously worked 23 years at AT&T, including a stint running AT&T Wireless. [WSJ]

Sprint and WiMax startup Clearwire have ended plans to form a joint venture. Supposedly the "complexities of the transaction" and the ouster of Sprint CEO Gary Forsee torpedoed the deal. This leaves a nationwide WiMax rollout for either company very much up in the air. [WSJ]

Sprint is considering a spinoff of its WiMax division, combining it with wireless startup Clearwire, to form a venture with national reach in wireless spectrum. Forming a new company to focus on WiMax would allow backers to bet on it, but keep the huge capital expenditures required from a national rollout off Sprint's books. The cell provider is hunting for a new CEO to replace ousted exec Gary Forsee and is looking to staunch its bleeding of customers. [WSJ]

Sprint CEO Gary Forsee is quitting effective immediately and Sprint has adjusted its financial guidance downwards. The company's board has been looking at outside candidates, so feel free to submit your resume. [WSJ]

Sprint Nextel board members are on the hunt for a new CEO to replace Gary Forsee. Sprint has been losing out to AT&T and Verizon in signing up new customers and recently lost the confidence of investor Ralph Whitworth, who owns almost 2 percent of the company. [WSJ]