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DALLAS – (COMMERCIAL WIRE) – After turning 13 as AT&T President and CEO, Randall Stephenson, 60, will retire as CEO but will serve as Executive Chairman of the Board of Directors until January 2021 to ensure a smooth leadership transition.
The Board of AT&T Inc. * (NYSE: T) elected AT&T President and Chief Operating Officer John Stankey as CEO effective July 1, 2020, and a member of the Board of Directors effective June 1, 2020. 2020.
Stankey’s selection as the next AT&T CEO completes the final phase of a succession planning process that the AT&T Board began in 2017, which included a thorough evaluation of internal and external candidates. Most recently, the Human Resources Committee, chaired by AT&T Director Beth Mooney, comprised entirely of independent directors and backed by outside consultants, participated in an extensive five-month search process to ensure that the next CEO of the company has vision, experience, talent and leadership. qualities necessary to fulfill AT & T’s strategic plans. Those qualities in our new CEO are important to our future and essential during these challenging economic times.
“Leadership succession is one of the Board’s most important responsibilities,” said Mooney. “After a thorough evaluation, it became clear that John Stankey was the right person to lead AT&T into the future.”
Stankey, 57, has served as President and Chief Operating Officer since October 2019. He joined AT&T in 1985 and has more than 30 years of accomplished leadership in almost all areas of AT&T business, from corporate strategy and technology to operations and media and entertainment. Stankey has served in a variety of roles, including: CEO of WarnerMedia; AT&T Entertainment Group CEO; Strategy Director; Chief of Technology; AT&T Operations CEO; and CEO of AT&T Business Solutions.
Stephenson said: “I congratulate John and look forward to partnering with him as the leadership team progresses through our strategic initiatives as it navigates the difficult economic and health challenges facing our country and the world today. John has the right experiences and skills, and the unwavering determination that every CEO needs to act on his convictions. He has an excellent leadership team on board to ensure AT&T remains strong and continues to deliver to customers and shareholders for years to come. ”
Matt Rose, AT&T Independent Chief Executive Officer, said: “Randall has done an exceptional job as CEO in transforming AT&T into a leader in communications, technology, media and entertainment. His strong leadership and strategic investments during an unprecedented period of demand by premium mobile communications and entertainment customers have positioned the company extremely well for years to come. We hope Randall will continue to lead the Board and work with John to ensure a smooth leadership transition. ”
“I am honored to be chosen as the next CEO of AT&T, a company with a rich history and a bright future,” said Stankey. “I thank Randall for his vision and outstanding leadership during a period of tremendous change and investment in the core capabilities necessary to position AT&T well for years to come. And I appreciate the Board’s trust in me as I lead the company during our next chapter of growth and innovation to keep people connected, informed, and entertained. We have a strong company, leading brands and an excellent team of employees, which I am privileged to lead. I couldn’t be more excited about the new opportunities we have to serve our customers and communities and create value for our shareholders. ”
Later this year, the AT&T Board will elect an independent director to chair the Board of Directors when Stephenson retires as CEO in January 2021.
* About AT&T
AT&T Inc. (NYSE: T) is a diversified global leader in telecommunications, media and entertainment, and technology. It runs on the market under four operating units. WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content to global audiences through its consumer brands, including: HBO, Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line. , Cartoon Network, Adult Swim, Turner Classic Movies and others. AT&T Communications serves more than 100 million US consumers. USA Entertainment and communication experiences in TV, mobile phone and broadband services. Additionally, it serves nearly 3 million commercial customers with high-speed, highly secure connectivity and smart solutions. AT&T Latin America provides pay television services in 11 countries and territories in Latin America and the Caribbean, and is the fastest growing wireless service provider in Mexico, serving consumers and businesses. Xandr offers marketing specialists innovative and relevant advertising solutions for consumers around premium video content and digital advertising through its AppNexus platform.
AT&T products and services are provided or offered by AT&T Inc. subsidiaries and affiliates under the AT&T brand and not by AT&T Inc. Additional information available at about.att.com. © 2020 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo, and other marks are trademarks and service marks of AT&T Intellectual Property and / or companies affiliated with AT&T. All other trademarks contained herein are the property of their respective owners.
