“AT&T Inc. (T) Chief Executive Randall Stephenson defended his strategy and likely successor in his first public remarks since an activist hedge fund challenged the company to change direction.”
So writes Drew FitzGerald in the Wall Street Journal. She follows up with a little more detail:
“Speaking at a Goldman Sachs conference in New York, the telecom boss said newly named chief operating officer John Stankey was the right pick to make the Dallas company’s telecommunications, media and advertising businesses work together more effectively.”
This follows the challenge by Elliott Management who purchased shares