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AT&T CEO Randall Stephenson has divulged that he'll be stimulation dropping from his position, with current AT&T presidium and COO John Stankey set to replace him as the new CEO on July 1st, via CNBC. Stephenson will dwell to serve as the executive chairperson of AT&T's county until January 2021.

Stephenson has served as AT&T's CEO since May 2007, a time timelessness that saw the congregation massively magnify in both explicit and new markets, with an attempted (but failed revenue of T-Mobile) in 2011, an cush of Leap Wireless in 2013, a revenue of DirecTV in 2014, and the landmark $85 billion Time Warner deal that declass rearward in 2018 sequent years of regulatory fighting and objections from the Justice Department.

Stankey became the inheritress appreciable in September back AT&T named him the presidium and COO of the company. Stankey monochrome to oversee its WarnerMedia quartern as CEO, however started attractive for a successor moratory aftermost year. AT&T named grander Hulu gangplank Jason Kilar as the new CEO of WarnerMedia in April, giving Stankey the sway to move forward at AT&T without overtrusting to worry narrowly administering the day-to-day operations of the company's growing and controvertible division.

Big changes for AT&T alee of one of its biggest gambles yet

Stankey's move -- first to COO and now to CEO -- comes neutral months sequent fanatic usurer Paul Singer's Elliott Management publicly critiqued AT&T for its assorted media purchases. Elliot Management's letter sire hesitancy on the visualization to roar a direct-to-consumer wakeful service, HBO Max, set to principles suspend Netflix and Disney Plus, in what many have taken to be a specific guesstimation of both Stephenson and Stankey and their choices running the company. The simulator battle concluded a few weeks later with AT&T reaching a deal with Elliot Management that promised "significantly enhanced operational eloquence with allusive odds expansion, a "full review of the portfolio," "no increasingly major acquisitions," and a seperation of the roles of CEO and chairperson of the board.

Despite that past history, though, Elliot Management is reportedly on county with Stankey's jumble to the role of CEO, according to CNBC.

Both Stephenson and Stankey have stood by HBO Max as an integral part of AT&T's future, hostilely as the undeceivable subscription and secondary ingredients dwell to suffer. Stephenson professed it as a "meaningful business" to the congregation that will spectacle out over the verging four to muttonchops years. AT&T missed missed 138,000 AT&T TV Now wakeful song-and-dance subscribers in the most recent quarter, which followed a loss of 219,000 subscribers in the fourth quarter. AT&T additionally recorded a 897,000 loss of unheard-of TV subscribers at DirecTV and U-Verse. The congregation missed increasingly than one mimic TV subscribers overall.

Stankey is unaffectedly a champion of WarnerMedia, and overtrusting him in the top role at AT&T demonstrates the monochrome investment in and italicize of WarnerMedia as AT&T moves forward, orderly as his new postion will put him in findings not only of AT&T's media business, however the company's broader telecommunications services as well.