AT&T names John Stankey CEO as Randall Stephenson retires [Los Angeles Times (CA)]
AT&T Inc. (T)
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Source: Los Angeles Times
AT&T named John Stankey its next chief executive on Friday, replacing Randall Stephenson, who retires this summer. Stankey, 57, has worked at the telecommunications company since 1985 and served as chief operating officer since October. He will assume the top job July 1. Stephenson, 60, will stay on as executive chairman of the board until January to “ensure a smooth leadership transition,” the company said in a statement. Stephenson has run the company for the last 13 years, and Stankey will join the board in June. The Dallas-based telecommunications giant has been involved in a multi-year succession planning process, but the issue became more pressing last fall when an activist shareholder delivered a letter demanding changes to boost AT&T’s share price. The activist shareholder took aim at Stephenson, who last year said he planned to stay on through 2020. AT&T said it has engaged in a extensive five month-search process to identify Stephenson’s replacement. “Leadership succession i
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News
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- Bernstein Reiterates a Buy on AT&T Inc. (T), Keeps the PT [Yahoo! Finance]Yahoo! Finance
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