AT&T CEO Randall Stephenson to step down

Source: Xinhua | 2020-04-25

Randall Stephenson, chief executive officer of AT&T, the world's largest telecommunications company, announced Friday to step down.

The company's statement said AT&T's current president and COO John Stankey will replace Stephenson beginning July 1.

According to the Friday statement, Stephenson will serve as chairman of the board of directors until January 2021. The board of directors will elect an independent director to chair the board when Stephenson retires.

Serving as chairman and CEO of the company since 2007, Stephenson said that "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."

AT&T Inc. is an American multinational conglomerate holding company headquartered in Dallas, Texas. In June 2018, AT&T completed its acquisition of Time Warner Inc., bringing together global media and entertainment leaders Warner Bros., HBO and Turner with AT&T's leadership in technology and its video, mobile and broadband customer relationships.