- Push-out Score determined
- After about 13 years in the position
- Praise and thanks for Stephenson
- John Stankey taking over
- Stephenson will remain as Executive Chairman at AT&T Inc.
- Stephenson said 79 words
(exechange) — Dallas, Texas, April 24, 2020 — Randall Stephenson, chief executive of AT&T, leaves his position. As announced by AT&T Inc. in a news release on Friday, April 24, 2020, Randall Stephenson leaves his post as chief executive officer at the media and telecommunications company after about 13 years in the role, effective July 1, 2020.
Randall Stephenson’s duties as CEO will be taken over by John Stankey, currently President and Chief Operating Officer of AT&T Inc.
“Challenging economic times”
Randall Stephenson’s departure from the CEO post is explained as follows. 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. Those qualities in our new CEO are important for our future and essential during these challenging economic times.”
Stephenson will remain as Executive Chairman at AT&T Inc.
“After serving 13 years as AT&T’s Chairman and CEO, Randall 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,” AT&T said.
Share price decline
The announcement follows a decline in AT&T Inc.’s share price of 29% since June 2007.
In the position of CEO since 2007
Randall Stephenson became CEO of the Company in 2007.
Stephenson is Chairman of the Board and Chief Executive Officer of AT&T Inc. and has served in this capacity since 2007, having also served as President from 2007 through September 2019.
He has held a variety of high-level finance, operational, and marketing positions with AT&T, including serving as Chief Operating Officer from 2004 until his appointment as Chief Executive Officer in 2007 and as Chief Financial Officer from 2001 to 2004.
He began his career with the Company in 1982.
Stephenson received his B.S. in accounting from Central State University (now known as the University of Central Oklahoma) and earned his Master of Accountancy degree from the University of Oklahoma.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to AT&T and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 17.2020 ($).