US operator AT&T announced that three of its senior executives will assume new positions from tomorrow (1 August), as it prepares for completing its $85 billion acquisition of Time Warner.
The deal for Time Warner, currently under review by the US Department of Justice and competition authorities in certain countries, is expected to close by year end, AT&T said last week when it announced its Q2 results.
In a statement, the company revealed John Stankey, who is the current CEO of its entertainment group, will be charged with leading AT&T’s Time Warner Merger Integration Planning Team, working closely with opposite chairman and CEO Jeff Bewkes.
Stankey will then assume the position as CEO of AT&T’s media company once the merger is completed.
Current chief strategy officer and group president of AT&T technology and operations John Donovan will now be CEO of AT&T Communications, which includes the group’s mobile business and DirecTV operations.
Meanwhile, global marketing officer Lori Lee will assume the additional responsibility of leading AT&T International.
She was previously lead of AT&T’s Time Warner Merger Integration Planning Team, and will now be charged with leading the company’s operations in Latin America and the Caribbean.
All three executives will continue to report to AT&T CEO and chairman Randall Stephenson.
A report by Bloomberg earlier this month said Stephenson himself would move into a new role above two divisional CEOs, should the Time Warner deal be approved.
The company however quickly quashed those reports, insisting that Stephenson would remain in his current role.