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AT&T CEO Randall Stephenson To Retire, COO Stankey To Succeed

(RTTNews) - AT&T Inc.'s (T) long time Chief Executive Officer Randall Stephenson, 60, will retire. The company's President and Chief Operating Officer John Stankey, 57, will take over the position on July 1.

Stephenson, who has served as AT&T's CEO for more than 13 years, will stay on as executive chairman until January 2021.

"Stankey's selection as AT&T's next CEO completes the final phase of a succession planning process that AT&T's Board began in 2017," the company said in a statement.

Meanwhile, Elliott Management, the activist investment firm that urged for executive changes at AT&T, reportedly said it supports Stankey as the company's next chief executive officer.

Later this year, the company will elect an independent director to chair the Board of Directors when Stephenson retires as executive chairman in January 2021.
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