Business Services Industry
Sprint Fires Corporate Auditor.
Knight Ridder/Tribune Business News, October, 2003
The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Oct. 15--Sprint Corp., seeking to move past a personal tax-shelter controversy that led to the ouster of its two top executives, has fired its corporate auditor.
In a meeting Tuesday, Sprint's board of directors selected KPMG to replace Ernst & Young as corporate auditor in fiscal year 2004.
Ernst & Young, Sprint's auditor since 1965, will complete the fiscal year 2003 audit.
Sprint also announced several corporate governance reforms, which the board unanimously approved.
Among others, the board adopted a policy requiring shareholder approval of any executive severance agreement triggered by a corporate "change in control" that is more than twice an...
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