T-Mobile CEO John Legere will step down

T-Mobile announced Monday that CEO John Legere will be stepping down at the end of next April after his contract expires. The surprise move comes as speculation swirls about the possibility that Legere was a leading contender to become the next CEO of WeWork.

Legere will be replaced by Mike Sievert, who is currently the president and chief operating officer of T-Mobile. The company said Legere is going to remain a board member and will assist with the company’s pending acquisition of rival Sprint.

Sprint is controlled by Japanese investing giant SottBank, which also has a controlling interest in WeWork.

WeWork is looking for a new CEO after Adam Neumann was forced out when the company was forced to scrap its initial public offering plans due to concerns about its corporate governance and mounting losses.

This is a developing story and will be updated.