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.

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