Stephenson has served as AT&T’s CEO for over 13 years and oversaw the acquisitions of Time Warner (now known as WarnerMedia) and satellite TV provider DirecTV.

AT&T said that Stephenson will remain the company’s executive chairman until January 2021 “to ensure a smooth leadership transition.””Leadership succession is one of the Board’s most important responsibilities,” AT&T Director Beth Mooney said. “After an extensive evaluation, it was clear that John Stankey was the right person to lead AT&T into the future.”

Stankey, 57, has served as president and COO since October 2019. He joined AT&T in 1985 and has more than 30 years of accomplished leadership spanning nearly every area of AT&T’s business, from corporate strategy and technology, to operations and media and entertainment. Stankey has served in a variety of roles, including: CEO of WarnerMedia; CEO of AT&T Entertainment Group; Chief Strategy Officer; Chief Technology Officer; CEO of AT&T Operations; and CEO of AT&T Business Solutions.