T-Mobile

T-Mobile announces CFO's retirement

23 June 2020 | Melanie Mingas

Cover

Braxton Carter, the executive president and chief financial officer for T-Mobile, has confirmed his retirement after 19 years with MetroPCS and T-Mobile.

He will remain available to the company as strategic advisor until “at least” December 31, 2020.

Carter will be replaced by Peter Osvaldik, who has been promoted from SVP and chief accounting officer to CFO, effective 1 July.

“Over the past 19 years – from MetroPCS to T-Mobile – Braxton Carter has helped us build T-Mobile into the most loved brand in wireless,” said T-Mobile CEO Mike Sievert (pictured).

“Quarter after quarter, Braxton led the charge in translating T-Mobile’s record customer growth into record financial results. His tireless advocacy on behalf of T-Mobile gave us room to grow and set us up for longer term success. I can’t thank Braxton enough for everything he’s done for this company. We will miss him -- and his signature magenta cowboy hat – tremendously,” he added.

Osvaldik joined T-Mobile in January 2016 as vice president, external reporting and technical accounting. He was elevated to SVP, finance and chief accounting officer in June 2016. Prior to T-Mobile, Osvaldik held chief accounting officer, controller and manager roles at Outerwall, Coinstar and PricewaterhouseCoopers.

“Peter brings his proven leadership capabilities and strong financial acumen into this position at a critical time in the Un-carrier’s history, as we manage the significant complexities and huge opportunities inherent in this next chapter, integrating Sprint and delivering on the financial potential of the new T-Mobile,” said Sievert.

“As a Team Magenta executive officer and leader for nearly five years and with financial leadership roles at companies prior to T-Mobile, Peter has both a deep knowledge of T-Mobile and significant financial expertise that have made him a key contributor to the outstanding results we’ve seen over the last few years.”

The company said Carter and his team raised more than $100 billion in capital for both standalone and new T-Mobile. That growth has translated into a 500% return on equity for investors and today the firm’s market cap exceeds $120 billion.