We've already had one CEO shakeup at one major carrier this month, and now a second is happening.
AT&T CEO Randall Stephenson is retiring. AT&T confirmed the news this morning, revealing that John Stankey will take over as its CEO effective July 1, 2020. Stankey is current AT&T's president and COO.
Stephenson will remain at AT&T as executive chairman of the company's board of directors until January 2021 to help make the leadership transition smooth.
Stankey has served a variety of roles at AT&T, including CEO of WarnerMedia and CEO of AT&T Business Solutions.
"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," Stephenson said. "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."
During his 13 years at the helm of AT&T, Stephenson has overseen several big deals. That includes AT&T's attempted purchase of T-Mobile in 2011 that ended up being blocked by the FCC and the Department of Justice.
Now Stankey will take the helm at AT&T. The CEO change is unlikely to have much of an effect on consumers, but it's still notable as AT&T is one of the major communications and entertainment companies in the US.