John Stankey Named AT&T CEO, Randall Stephenson to Retire

Randall Stephenson is retiring as CEO of AT&T, after 13 years in the post, with John Stankey taking over in the role.

Stephenson, 60, will retire as CEO but will serve as executive chairman of the board of directors until January 2021 to ensure a smooth leadership transition.

Stankey, AT&T’s president and COO, takes over as CEO effective July 1 and becomes a member of the board of directors effective June 1.

“Leadership succession is one of the Board’s most important responsibilities,” said AT&T Director Beth Mooney. “After an extensive evaluation, it was clear that John Stankey was the right person to lead AT&T into the future.”

Stephenson said, “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.”

Matt Rose, AT&T’s independent lead director, said, “Randall has done an outstanding job as CEO in transforming AT&T into a leader in communications, technology, and media and entertainment. His strong leadership and strategic investments during a period of unprecedented customer demand for mobile communications and premium entertainment have positioned the company extremely well for the years ahead. We look forward to Randall continuing to lead the board and working with John to ensure a smooth leadership transition.”

“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.”