AT&T CEO steps down

AT&T has announced today that its CEO Randall Stephenson will be stepping down at the end of Q2 with COO John Stankey to fill the role. The wireless executive shakeup comes a bit earlier than expected based on Stephenson’s previous comments.

CNBC highlights that after seeing pressure from an activist fund last year for Stephenson to step down, he said back in February that he’d remain in the CEO position through this year. Today AT&T confirmed that those plans have changed as Stankey will take over and lead AT&T starting on July 1st. Stephenson will stay on as executive chairman of the board until January 2021.

Elliott Management, the activist investment firm that pushed for executive changes at AT&T said it “supports” Stankey as the company’s next CEO.

Stephenson shared a statement on the change:

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. 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.

Stankey had this to say:

“I’m honored to be elected the next CEO of AT&T, a company with a rich history and a bright future,” said Stankey. “My thanks go to Randall for his vision and outstanding leadership during a period of tremendous change and investment in the core capabilities needed to position AT&T well for the years ahead. And I appreciate the Board’s confidence in me leading the company during our next chapter of growth and innovation in keeping people connected, informed and entertained. We have a strong company, leading brands and a great employee team, which I’m 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.”

FTC: We use income earning auto affiliate links. More.

Intego Mac Security X9 50% off

Check out 9to5Mac on YouTube for more Apple news:

You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

About the Author

Michael Potuck

Michael is an editor for 9to5Mac. Since joining in 2016 he has written more than 3,000 articles including breaking news, reviews, and detailed comparisons and tutorials.