John Stankey has been promoted to CEO of AT&T, succeeding Randall Stephenson within the function as of July 1.
Stankey is a 35-year AT&T govt who was named chief working officer final September. Stankey’s promotion was introduced Friday morning as a part of AT&T’s annual shareholders assembly in Dallas.
Stephenson stated he would stay within the govt chairman function by way of January 2021. AT&T had already dedicated to separating the roles of chairman and CEO after the top of Stephenson’s tenure. AT&T stated the board would elect an impartial director later this 12 months to succeed Stephenson as board chairman.
Noting Stankey’s long term with the corporate — most lately main the mixing of Time Warner belongings following AT&T’s $85.four billion acquisition in 2018 — Stephenson referred to as his successor “uniquely positioned” to steer the telecommunications big.
“Management succession is likely one of the Board’s most vital obligations,” AT&T board member Beth Mooney stated in a press release. “After an intensive analysis, it was clear that John Stankey was the correct individual to steer AT&T into the long run.”
In a video message to AT&T’s 248,000 workers worldwide, Stankey stated: “You’ve gotten impressed and supported me for almost 35 years, and I couldn’t be extra enthusiastic about tackling the challenges with you at some of the dynamic and thrilling instances in our firm’s historical past.”
Extra to come back