Sprint Nextel hires CFO

Sprint Nextel Corp. named Robert Brust as chief financial officer, effective immediately, and will pay him a $1 million salary plus a $1.65 million sign-on bonus.

Brust, 64, most recently filled the same role at Eastman Kodak Co. (NYSE: EK), where he worked from 2000 until he retired in 2007, Overland Park-based Sprint Nextel (NYSE: S) said in a Thursday release. He also has served as CFO at Unisys Corp. (NYSE: UIS) for two years and in various operations and finance leadership positions during his 31 years with General Electric Co. (NYSE: GE).

Brust succeeds Paul Saleh, who stepped down in late Januaryalong with Chief Marketing Officer Tim Kelly and Mark Angelino, president of sales and distribution.

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"Bob Brust is an experienced, respected financial leader with the right skills to lead Sprint's financial team," CEO Dan Hesse said in the release. "He understands operations and financial strategy in challenging, high-tech environments."

Also in the release, Brust said Sprint Nextel has a history of innovation and the assets to build a strong business.

"I am naturally drawn to challenges, but I view this role within Sprint as a true opportunity," he said. "I look forward to getting under way."

The employment agreement is for an initial term of two years. It provides for an annual base salary of $1 million, participation in Sprint's short-term incentive compensation plan with the potential this year to get 130 percent of his prorated base salary and participation beginning in 2010 in the company's long-term incentive compensation plan.

Brust also gets a cash sign-on bonus of $1.65 million, paid in three chunks through the end of 2009 and subject to his continued employment. He also gets an option to buy 677,201 Sprint shares and an award of 469,484 restricted stock units.

The contract also contains a three-year noncompete agreement should Brust leave the company.

Sprint Nextel is the nation's No. 3 wireless carrier, based on number of subscribers.