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Stephenson to Take Over AT&T as CEO

AT&T said Friday that Edward Whitacre Jr. will retire as chairman and CEO of the telephone giant June 3. He’ll be replaced by Randall Stephenson, currently AT&T’s chief operating officer.

Whitacre had been chairman and CEO since 1990, when the company was known as Southwestern Bell Telephone. He’s the longest-serving CEO in the telecommunications industry, AT&T said.

Oklahoma City native Stephenson began his career at Southwestern Bell in 1982. In 1996, he was named controller at SBC Communications. Before being named COO at AT&T, Stephenson was senior executive vice president and chief financial officer at SBC.