AT&T : Executive Chairman Retires, to Serve as Company Consultant for a Year

By Dave Sebastian

AT&T Inc. said Executive Chairman Randall Stephenson has retired, effective Jan. 21, but will remain as a consultant for the company for a year.

Mr. Stephenson will get $1 million for his consulting services, the Dallas-based company said Monday. William Kennard, a former Federal Communications Commission chairman, started serving as AT&T's independent chairman this month.

Mr. Stephenson stepped aside as chief executive last year. His longtime deputy, John Stankey, succeeded him in July.

Write to Dave Sebastian at [e-mail]

(END) Dow Jones Newswires

01-25-21 1213ET