(Reuters) -T-Mobile's chief operating officer, Srinivasan Gopalan, will take over from Mike Sievert as the next CEO effective November 1, the company said on Monday.

Shares of T-Mobile fell nearly 1% in premarket trading.

Sievert, who took charge as chief executive in April 2020, will move to the newly created position of vice chairman and advise on long-term strategy, innovation and talent development.

Gopalan has held senior leadership positions at Bharti Airtel, Capital One and Vodafone and most recently served as chief executive of Deutsche Telekom's Germany business, where he is credited with doubling the company's growth rate and scaling its fiber business.

Gopalan had served on T-Mobile's board for nearly four years and took on the COO role in March.

The company in July raised its annual forecast for postpaid net customer additions and added more wireless subscribers than expected in the second quarter.