Elliott Management softened stance on John Stankey as AT&T CEO after being unsatisfied with external choices [CNBC]
AT&T Inc. (T)
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Source: CNBC
AT&TElliott, the hedge fund run by Paul Singer, remains skeptical of Stankey's decision making but has decided his understanding of AT&T's sprawling assets makes him a better candidate to take over for Stephenson than any external candidate, according to people familiar with the matter. Stankey was the only internal candidate who was a finalist to take over for Stephenson, said the people. Elliott said Friday it "supports John Stankey as AT&T's next CEO.""We have been engaged with the company throughout the search process, which was a robust one, including a range of highly qualified outside candidates and overseen by independent directors," Elliott Management partner Jesse Cohn said in a statement. "We look forward to working with John as he begins his term as CEO."This appears to be an about-face from Elliott's stance from last year. Elliott acquired a stake in AT&T becauseit didn't trust its leadership and path forwardwas skeptical"AT&T has suffered from operational and execution i
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News
- AT&T to Webcast Fireside Chat with John Stankey at the UBS Global Media and Communications Conference on Dec. 9PR Newswire
- AT&T to Release Fourth-Quarter 2025 Earnings on Jan. 28PR Newswire
- What Do You Know About Black Friday? [The New York Times]The New York Times
- Bernstein Reiterates a Buy on AT&T Inc. (T), Keeps the PT [Yahoo! Finance]Yahoo! Finance
- 77% of U.S. Consumers Would Complete All Holiday Shopping at Small Businesses, According to Latest AT&T Business Holiday Shopping SurveyPR Newswire
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