AT&T CEO Randall Stephenson to Retire, Replaced by WarnerMedia Chief John Stankey

After 38 years with the company and 13 as its top executive, AT&T (NYSE: T) CEO Randall Stephenson is retiring. He'll officially step down as chief executive on July 1 and will be replaced by John Stankey, CEO of AT&T subsidiary WarnerMedia. Stankey, who also serves as AT&T's Chief Operating Officer, will become a board member at the beginning of June. Former Hulu chief Jason Kilar had already been selected to replace Stankey as CEO of WarnerMedia.

The line of succession wasn't a surprise, although the timing of it may have caught some shareholders off guard. Stephenson had previously indicated he would remain at the helm at least through 2020 to further guide the integration of its telecom operations with new entertainment assets, among other things.

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Source Fool.com