Outgoing AT&T CEO Randall Stephenson leaves behind a checkered tenure [CNBC]
AT&T Inc. (T)
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Source: CNBC
AT&TSeinfeld" lineWhen Stephenson took over AT&T as CEO in May 2007, the company's stock price was $39.47. Today, AT&T trades under $30, about 24% lower. The S&P 500 is up about 85% in the same period.AT&T is also one of the world's most reliable dividend payers, and the company's dividend has consistentlyincreased since 2007That perhaps best sums up Stephenson's tenure, which has been notable for its huge bets on acquisitions that have given AT&T sufficient streams of cash flow and potential new revenue streams away from wireless phone business. Still, the deals themselves have been disasters at worst and questionable at best, tarnishing his CEO stint."He leaves behind a completely transformed AT&T, but the jury is still out if the transformation is for better or worse," said Craig Moffett, a telecommunications analyst at MoffettNathanson.Stephenson can't be faulted by sitting on his heels and failing to act. Just the opposite. He's tried to be extremely aggressive with acquisitions
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