After 13 years of serving as chief executive officer and chairman of AT&T, Randall Stephenson will retire as chief executive officer. He will continue as executive chairman of the board of directors until January 2021 to ensure a smooth leadership transition.

The board has elected AT&T president and chief operating officer John Stankey to take over as chief executive officer, effective July 1, and to serve as a member of the board of directors, effective June 1.

“I congratulate John, and I look forward to partnering with him as the leadership team moves forward on our strategic initiatives while navigating the difficult economic and health challenges currently facing our country and the world,” says Stephenson. “John has the right experiences and skills, and the unflinching determination every CEO needs to act on his convictions. He has a terrific leadership team onboard to ensure AT&T remains strong and continues to deliver for customers and shareholders for years to come.”

Stankey, 57, has served as president and COO since October 2019. He joined AT&T in 1985 and has more than 30 years of leadership spanning nearly every area of AT&T’s business, from corporate strategy and technology, to operations and media and entertainment.

“I’m honored to be elected the next CEO of AT&T, a company with a rich history and a bright future,” says Stankey. “My thanks go to Randall for his vision and outstanding leadership during a period of tremendous change and investment in the core capabilities needed to position AT&T well for the years ahead. And I appreciate the Board’s confidence in me leading the company during our next chapter of growth and innovation in keeping people connected, informed and entertained. We have a strong company, leading brands and a great employee team, which I’m privileged to lead. I couldn’t be more excited about the new opportunities we have to serve our customers and communities and create value for our shareholders.”