AT&T is getting a change in leadership. On Friday the telecom giant announced that CEO Randall Stephenson will be retiring after 13 years as chairman and CEO, with company president and chief operating officer John Stankey taking over in the top spot on July 1.
Stephenson will remain on the company’s board as executive chairman until January 2021. A new independent director will be elected later this year to chair the board after Stephenson leaves in January.
Stankey previously served as the CEO of WarnerMedia and AT&T’s entertainment group, having been with the company since 1985, most recently becoming president and COO in October 2019. The transition comes as AT&T prepares its biggest entertainment endeavor yet with the.
“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,” Stephenson said in a statement.
“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.”
This story is developing…