It’s a changing of the guard at AT&T, which revealed Friday that CEO Randall Stephenson is retiring and chief operating officer John Stankey will take the top job as of July 1.
The move was announced at the company’s annual meeting of shareholders.
Stephenson, 60, and chairman-CEO for the past 13 years, will serve as Executive Chairman of the Board of Directors until January to ensure a smooth transition.
AT&T said 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, which included a thorough evaluation of internal and external candidates. Most recently, the HR Committee — led by AT&T Director Beth Mooney, comprised entirely of independent directors and supported by outside consultants — engaged in an extensive five-month search process to ensure that the company’s next CEO possessed the vision, experience, talent and leadership qualities necessary to deliver on AT&T’s strategic plans.
