T-Mobile has announced that its CEO, John Legere, will be stepping down following the expiration of his contract in April 2020.

It’s a heavy baton, but we are lucky the amazing @JohnLegere has been carrying it for 7+ years and counting. And we’re doubly lucky the incredible @SievertMike is ready for the hand-off this coming spring. ?? pic.twitter.com/l3npTiN9YW

— T-Mobile (@TMobile) November 18, 2019

According to CNN, Legere will be replaced by T-Mobile’s current president and chief operating officer, Mike Sievert.

?? I’ve got some important news! On May 1, I’ll be handing the magenta CEO reigns over to @SievertMike as my successor. This move has been under development for a long time and I couldn’t be more confident in the future of @TMobile under his leadership.

— John Legere (@JohnLegere) November 18, 2019

The company’s announcement happened amid speculation that Legere had been a leading contender to become CEO of WeWork. But Legere denied this on Monday, during a conference call with analysts.

Legere said he was never in discussions with WeWork and added that rumors about him leaving made things "awkward" since he was already in the process of hashing out a T-Mobile succession plan.

T-Mobile says Legere will remain a board member and assist with the company’s pending acquisition of Sprint.