AT&T CEO Randall Stephenson is stepping down, to be changed by John Stankey

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AT&T revealed Friday that CEO Randall Stephenson will be retiring from his function.  


CNET

AT&T is getting a modification in management. On Friday the telecom giant revealed that CEO Randall Stephenson will be retiring after 13 years as chairman and CEO, with business president and chief running officer John Stankey taking control of in the leading area on July 1. 

Stephenson, 60, will stay on the business’s board as executive chairman till January 2021. A brand-new independent director will be chosen later on this year to chair the board after Stephenson leaves in January. Stankey will sign up with the board on June 1. 

Stankey, 57, formerly the CEO of WarnerMedia and AT&T’s home entertainment group, has actually been with the business given that 1985, most just recently ending up being president and COO in October 2019. 

The shift comes as AT&T gets ready for among its most significant home entertainment ventures yet with the launch of its HBO Max streaming service set for May 27

“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 stated in a declaration. 

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John Stankey will take control of the reigns as AT&T CEO on July 1. 


AT&T

“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.”

Over the past 13 years, Stephenson has actually managed a host of significant AT&T efforts, consisting of the launch of the initial iPhone in 2007, the upgrade of its cordless service from 3G to 4G and now 5G networks, along with the growth of AT&T into home entertainment with purchases of DirecTV for $49 billion in 2015 and an $85 billion merger with Time Warner in 2018

He likewise attempted to buy T-Mobile in 2011 for $39 billion however AT&T ultimately deserted the quote in the middle of issues that it would be obstructed by regulators over antitrust ramifications. 

Stephenson is the current significant telecom or media executive to leave in 2020. On April 1 previous T-Mobile CEO John Legere left his business after its merger with Sprint closed and Disney’s Bob Iger stepped down from his function as CEO in February

Iger has actually given that returned as executive chairman to assist the Mouse House in its efforts to browse the coronavirus.

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