AT&T CEO Randall Stephenson is stepping down, to get replaced by John Stankey

AT&T CEO Randall Stephenson is stepping down, to get replaced by John Stankey


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AT&T introduced Friday that CEO Randall Stephenson can be retiring from his position.  


CNET

AT&T is getting a change in management. On Friday the telecom large introduced that CEO Randall Stephenson can be retiring after 13 years as chairman and CEO, with firm president and chief working officer John Stankey taking up within the prime spot on July 1. 

Stephenson, 60, will stay on the corporate’s board as govt chairman till January 2021. A brand new impartial director can be elected later this yr to chair the board after Stephenson leaves in January.

Stankey, 57, beforehand served because the CEO of WarnerMedia and AT&T’s leisure group, having been with the corporate since 1985, most not too long ago turning into president and COO in October 2019. The transition comes as AT&T prepares its largest leisure endeavor but with the launch of its HBO Max streaming service set for Might 27

“I congratulate John, and I look ahead to partnering with him because the management group strikes ahead on our strategic initiatives whereas navigating the tough financial and well being challenges at the moment dealing with our nation and the world,” Stephenson mentioned in a press release. 

“John has the precise experiences and expertise, and the unflinching willpower each CEO must act on his convictions. He has a terrific management group onboard to make sure AT&T stays sturdy and continues to ship for purchasers and shareholders for years to come back.”

Over the previous 13 years, Stephenson has overseen a number of main AT&T initiatives together with the launch of the unique iPhone in 2007, the replace of its wi-fi service from 3G to 4G and now 5G networks in addition to the enlargement of AT&T into leisure with purchases of DirecTV for $49 billion in 2015 and an $85 billion merger with Time Warner in 2018

Stephenson additionally tried to buy T-Cellular in 2011 for $39 billion however the firm ultimately deserted the bid amid issues that it will be blocked by regulators over antitrust implications. 

Stephenson is the newest main telecom or media govt to depart in 2020. On April 1 former T-Cellular CEO John Legere departed his firm after its merger with Dash closed whereas Disney’s Bob Iger stepped down as CEO in February

Iger has since returned as govt chairman to assist the Mouse Home in its efforts to navigate the coronavirus. 



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