US Sprint President Quits

Charles Skibo resigned today as president of US Sprint Communications Co., one year after he took over a fledgling company that is gambling on a $2-billion fiber optic network to earn it a significant share of the nation’s long-distance telephone business.

Sprint had a pre-tax loss of $358 million in the last half of 1986 and a pre-tax loss of $242 million on revenue of $615 million in the first quarter of this year, including one-time charges. “I’d be guessing of course, but it certainly smells like he got fired,” said John Bain of Shearson Lehman Brothers Inc. in New York.