Telecommunications giant AT&T has elevated John Stankey to the role of CEO, replacing the outgoing Randall Stephenson, effective July 1.
Stephenson (pictured right), who has been with AT&T for 38 years, will retire after serving for 13 years as CEO and chairman. The 60-year-old executive will continue serving as executive chairman of the board of directors until January 2021 to ensure a seamless transition of leadership.
“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,” Stephenson said in a statement. “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’s selection as the company’s next CEO completes the final phase of a succession planning process that AT&T’s board began in 2017, AT&T said Friday (April 24). The plan included what the American conglomerate called a “thorough evaluation of internal and external candidates.”
The 57-year-old Stankey (left) will additionally join AT&T’s board of directors on June 1. He has served as president and chief operating officer since October 2019.
He joined the company in 1985, serving in a variety of leadership roles including: corporate strategy and M&A; media and entertainment; operations, IT and technology; consumer mobility, broadband and TV; and enterprise business.
AT&T, meanwhile, will elect an independent director later this year to chair the board of directors once Stephenson exits as executive chairman in January 2021.
With files from Jillian Morgan