Stankey will take over on July 1 from Randall Stephenson, who said on Friday he will retire from the CEO position but will serve as executive chairman of the board until January 2021. The announcement, made during AT&T’s virtual annual shareholder meeting, drew a sharp response from U.S. President Donald Trump, who tweeted it was “great news” that Stephenson was leaving. Stankey oversaw WarnerMedia after AT&T’s $85 billion purchase of media company Time Warner, as well as the creation of HBO Max, the new streaming service that will launch May 27.
