AT&T Inc. (NYSE:T) has announced that Chairman and CEO Randall Stephenson will retire from the latter position this July. The service provider’s board of directors has named current President and Chief Operating Officer John Stankey as Stephenson’s replacement. Stephenson, 60, will remain with the company as executive chairman until January 2021 to assist in the transition. AT&T’s board will elect an independent director to replace Stephenson as chair when he fully departs the company.
The service provider says it began succession planning in 2017, with the HR Committee led by AT&T Director Beth Mooney launching a five-month executive search process that culminated in the decision to promote Stankey, who is 57. He has served in his current role since October 2019, but joined AT&T in 1985. During his tenure with the company, he was CEO of WarnerMedia, CEO of AT&T Entertainment Group, chief strategy officer; CTO, CEO of AT&T Operations, and CEO of AT&T Business Solutions.
“I congratulate John, and I look forward to partnering with him as the leadership team moves forward on our strategic initiatives while navigating the difficult economic and health challenges currently facing our country and the world,” said Stephenson. “John has the right experiences and skills and the unflinching determination every CEO needs to act on his convictions. He has a terrific leadership team onboard to ensure AT&T remains strong and continues to deliver for customers and shareholders for years to come.”
“I’m honored to be elected the next CEO of AT&T, a company with a rich history and a bright future,” commented Stankey. “My thanks go to Randall for his vision and outstanding leadership during a period of tremendous change and investment in the core capabilities needed to position AT&T well for the years ahead. And I appreciate the board’s confidence in me leading the company during our next chapter of growth and innovation in keeping people connected, informed, and entertained. We have a strong company, leading brands, and a great employee team, which I’m privileged to lead. I couldn’t be more excited about the new opportunities we have to serve our customers and communities and create value for our shareholders.”
For related articles, visit the Business Topic Center.
For more information on high-speed transmission systems and suppliers, visit the Lightwave Buyer’s Guide.
To stay abreast of fiber network deployments, subscribe to Lightwave’s Service Providers and Enabling Technologies newsletters.