Westar to make investigation public

Westar Energy Inc.’s board of directors plans to publicly release a report from a special investigation of its previous management.

The release is scheduled for 9 a.m. May 15. Spokeswoman Gina Penzig said the firm had not decided how it will become public and whether the report will be posted on its Web site.

The report is from a special board committee, appointed last year. Penzig said attorneys still were proofreading the final draft.

The report deals with matters under investigation by the U.S. Attorney’s office for Kansas and the Securities and Exchange Commission.

Telecommunications

Esrey may resign as Sprint chairman

Sprint Corp. Chairman William Esrey is expected to resign next week, relinquishing the post to newly appointed Chief Executive Gary Forsee, people familiar with the matter told the Wall Street Journal.

Esrey, 63, who joined Sprint in 1980, was chief executive from 1985 until Forsee succeeded him in March.

Sprint’s board ousted Esrey and former president and chief operating officer, Ronald LeMay, late last year over their use of personal tax shelters that have potentially left them owing millions in back taxes and put them in conflict with the company’s longtime auditor, Ernst & Young.

Topeka

Payless lowers outlook

Payless ShoeSource Inc. lowered again its first-quarter guidance after reporting lower-than-expected sales in April were hurt by unfavorable weather and a weak retail market.

In a press release Thursday, the Topeka-based footwear retailer said it now expects first- quarter earnings of 20 cents to 22 cents a share.