Monday, March 7, 2011

AT&T (NYSE:T) Names New CFO

AT&T Inc. (NYSE:T) announced they'll be replacing outgoing chief financial officer Rick Lindner with John Stephens.

Stephens will take over for Lindner on June 1, the company in a statement. A 19-year AT&T veteran, Stephens spent the last 10 years as controller, responsible for financial reporting, business planning and accounting policy.

Michael Nelson, an analyst at Mizuho Securities USA Inc., said concerning Lindner, “He certainly took a leadership role in transforming AT&T. The company made significant acquisitions, rolling up the sector to become the dominant player it is today.”

AT&T remains the largest American phone company, but is behind Verizon (NYSE:VZ) in mobile subscribers.

AT&T closed Friday at $27.92, down $0.21, or 0.76 percent.

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