Can AT&T’s New CEO Solve Its 3 Biggest Problems?
AT&T (NYSE: T) recently announced that CEO Randall Stephenson, who led the company for 13 years, will retire on July 1. Stephenson had previously pledged to lead AT&T until the end of 2020, so the announcement likely surprised investors.
President and COO John Stankey, who joined AT&T in 1985 and was groomed as Stephenson's successor, will become AT&T's next CEO. Stankey previously led three business units -- AT&T Communications, Xandr, and WarnerMedia -- but recently stepped away from WarnerMedia and handed the reins to Hulu co-founder Jason Kilar.
Elliott Management, the activist fund that pushed AT&T for an executive shakeup last year, previously expressed doubts about Stankey's ability to lead the company. However, the firm recently stated that it "supports" Stankey as its next CEO.
Source Fool.com
