Kicking off an investment conference hosted by Goldman Sachs in New York, AT&T CEO Randall Stephenson pushed back on Elliott Management’s complaints of mismanagement at the telecom and me…
Stephenson also offered an endorsement of key lieutenant John Stankey and said the sweeping tax cuts enacted at the end of 2017 have spurred wage gains for low-income workers and “crazy-low” unemployment rates.
The Elliott letter demanded the exits of Stephenson — who is said to be looking to wind down his 38-year career soon — as well as Stankey, who has ledand is moving up to COO of the company. “It’s not easy” to reshape a company like Time Warner, Stephenson said. “He’s done a really nice job of breaking down the silos.
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