Earnings

AT&T bows to pressure from activist investor Elliott, CEO will stay on through 2020

Randall Stephenson, CEO of AT&T, speaking at the Business Roundtable CEO Innovation Summit in Washington, DC. on Dec. 6th, 2018.  

Janhvi Bhojwani | CNBC

AT&T said on Monday it would consider adding two new board members and selling off up to $10 billion worth of non-core businesses next year, bowing to pressure from activist investor Elliott Management.

Elliott has been pressing the telecommunications giant to cut costs, make management changes, and scale back expansion aspirations in one of its most ambitious investor campaigns to date.

Products You May Like

Articles You May Like

Crypto bill from Republicans lays out clear roles for SEC and CFTC
May 2023 Jobs Report Signals A Weaker Economy For New Graduates
Measuring inflation can be tricky and quirky. Here are 3 examples
Macy’s slashes its full-year outlook even as earnings beat
As emergency savings drop and credit card balances rise, experts say taking 3 steps can help

Leave a Reply

Your email address will not be published. Required fields are marked *