John Stankey elected Chairman of AT&T's Board of Directors, William Kennard named Lead Independent Director

Rhea-AI Summary

AT&T (NYSE:T) announced a significant leadership change as its Board of Directors unanimously elected John Stankey as Board Chair on February 14, 2025. Stankey, who has served as President and CEO since 2020, succeeds William E. Kennard, who transitions to the role of Lead Independent Director.

The governance restructuring aligns with AT&T's comprehensive three-year strategic and capital allocation plan. According to Kennard, this change aims to increase governance agility and enhance the company's ability to create long-term shareholder value while maintaining robust independent Board leadership.

Positive

• Board-approved three-year strategic and capital allocation plan in place
• Unified leadership structure with CEO also serving as Board Chair
• Maintained independent oversight through Lead Independent Director role

Negative

• Potential corporate governance concerns with CEO and Board Chair roles consolidated

DALLAS, Feb. 14, 2025 /PRNewswire/ -- AT&T (NYSE:T) announced on February 14, 2025 that its directors have unanimously elected John Stankey to the role of Board Chair. Stankey succeeds William E. Kennard, who was elected Lead Independent Director.

"As AT&T embarks on its comprehensive, Board-approved three-year strategic and capital allocation plan, this change provides the right governance structure for the Board," said Bill Kennard, outgoing Chair and incoming Lead Independent Director of AT&T. "This will increase our governance agility and enhance our ability to seize opportunities to create long-term shareholder value while maintaining robust independent leadership of the Board."

Stankey was named President and CEO in 2020.

About AT&T  

We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 140+ years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at investors.att.com.

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SOURCE AT&T

FAQ

When did AT&T (T) elect John Stankey as Board Chairman?

AT&T's Board of Directors unanimously elected John Stankey as Board Chairman on February 14, 2025.

What is William Kennard's new role at AT&T (T)?

William Kennard transitioned from Board Chairman to Lead Independent Director at AT&T.

How long has John Stankey been CEO of AT&T (T)?

John Stankey has been serving as President and CEO of AT&T since 2020.

What is the purpose of AT&T's (T) leadership structure change?

The change aims to increase governance agility and enhance AT&T's ability to create long-term shareholder value while maintaining robust independent Board leadership.

What strategic initiatives accompany AT&T's (T) leadership changes?

The leadership changes align with AT&T's comprehensive three-year strategic and capital allocation plan approved by the Board.