Sprint Corp (NYSE:S) announced the formation of Hispanic business segment to direct the fastest rising consumer division. The new segment will be headed by Roger Solé, who will also serve as the Senior VP of Innovation. He will report to the Chief Executive Marcelo Claure.
The new role
Solé takes a new responsibility to take care of all functions related to new Hispanic business segment. Sprint considers the new division as a fastest growing group in the U.S. It is an area where it intends to achieve a leadership. Speaking on the other segment of innovation, Claure said that management welcomes an experienced global leader with extensive experience in bringing innovative services and products. Solé also will serve as President of Sprint Puerto Rico.
Solé’s leadership in Sprint Innovation segment will focus on developing services and products that permit Sprint to provide a differentiated and innovative value proposition. He will look after Pinsight Media that focuses on mobile advertising. Also, he will be accountable for another segment known as the Sprint Accelerator. Kevin McGinnis, VP for Pinsight Media will report to Solé.
The growing market
The Hispanic segment is a growing market and can be stated as the second largest ethnic group or racial market in the nation. They are active customers of mobile technology. As per a report of Pew Research Center, the use of social networking sites, Smartphone and mobile Internet among Hispanic segment is high. The U.S. Hispanic industry is projected to report buying power of $1.2 trillion.
Sprint Corp (NYSE:S) is committed to focus on the Hispanic consumer market. Claure mentioned that the company wants to become an industry leader. Attracting leaders like Solé’ to head the new segment reflects the commitment to defined objectives. It is an important role for Sprint and the management believes that they have selected the right person for the role.