Randall Stephenson to become exec. chairman as AT&T-Time Warner acquisition shapes up

Julius Baer

AT& T Inc. will be redefining the role of Randall Stephenson, its chief executive officer to that of an executive chairman as its acquisition with Time Warner reaches a concrete stage.

According to a Bloomberg report, as part of the plan, Randall Stephenson, will oversee two a pair of chief executives who will independently manage the company’s telecommunications and media businesses, the report said, citing people familiar with the matter.

The report said John Stankey, currently heading DirecTV and other entertainment businesses, will head the new company’s media division which includes key media and news companies like HBO, Warner Brothers and news network CNN.

For his own role, John Donovan will lead DirecTV, which will become part of a unit that would include AT&T’s traditional phone businesses.

The acquisition has not overcome its roadblocks. About seven consumer advocacy groups are seeking the audience of the U.S Attorney General to block the deal over complaints that it will lead to higher prices and slow innovation in the media business.

According to his profile, Mr. Randall L. Stephenson has been the Chief Executive Officer of AT&T Inc. (Formerly SBC Communications, Inc.) since May 09, 2007 and as its President since June 2007. Mr. Stephenson has background in Telecommunications. He served as the Chief Financial Officer of AT&T Inc. Pension Arm; and SBC Communications Inc., Pension Arm. He served as the Chief Operating Officer of AT&T from April 30, 2004 to May 09, 2007, Chief Financial Officer and Senior Executive Vice President from August 2001 to May 2004 and also served as its Principal Accounting Officer.

He served as Senior Executive Vice President and Chief Financial Officer of SBC Communications Inc. (SBC), the Manager of AT&T Mobility LLC from August 2001 to April 2004. He joined Southwestern Bell Telephone Company in 1982 in the Information Technology Organization in Oklahoma City. Since 1986, he served as an Area Manager of Corporate Taxes. He served as District Manager of Financial Analysis since 1991.

Mr. Stephenson served as Director of Finance at SBC International, Inc. in Mexico City and was responsible for Financial Oversight of SBC’s Mexico properties, including Teléfonos de México (Telmex). From 1996 to October 1999, he served as Controller for SBC Communications Inc. in San Antonio and served as Vice President and Controller for SBC the following year. He also served as Senior Vice President of Finance with responsibility for all Financial Matters from October 1999 to September 2000 of SBC’s Telephone Company Operations, which included Ameritech, Pacific Bell, Nevada Bell and Southwestern Bell.

Additionally, he served as a Senior Vice President of Consumer Marketing, where he was responsible for all Product Development, Marketing, Pricing and Tariffs and Sales Support for SBCs Residential Customers and as Senior Vice President of Performance Assurance until October 2000, where he was responsible for monitoring and assuring the performance of the realigned SBC. He started his career at Southwestern Bell Telephone Company in 1982 and has extensive experience in Finance and Operations. Mr. Stephenson has been the Chairman of AT&T Inc. since June 03, 2007. He served as the Chairman of Cingular Wireless Corporation, a Manager of AT&T Mobility LLC from February 2003 to June 2004. He has been Director of the Robocall Strike Force at Federal Communications Commission since August 2016. He has been an Independent Director of The Boeing Company since February 17, 2016.

He has been a Director of AT&T Inc. since June 01, 2005. He has been Lead Independent Director of Emerson Electric Co. since October 4, 2016 and as its Independent Director since June 1, 2006. He serves as a Director AT&T Mobility LLC. He served as a Director of Cingular Wireless Corporation from July 2001 to 2006 and Prodigy Communications Corp. since 2001. He serves on the San Antonio United Way Executive Committee.

He serves as Member of Executive Committee at The Business Roundtable. He did his Certified Public Accountant. Mr. Stephenson holds Master of Accountancy Degree from the University of Oklahoma at Norman and Bachelor of Science degree in Accounting from Central State University in Edmond.

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