When John Stephens, AT&T Corp.'s controller for the past 10 years, takes over as CFO on June 1 he will bring to the job a decade of experience managing business planning, financial reporting, and accounting policy. He had previously served as vice president, taxes. When John Stephens, AT&T Corp.’s controller for the past 10 years, takes over as CFO on June 1 he will bring to the job a decade of experience managing business planning, financial reporting, and accounting policy. He had previously served as vice president, taxes.The company, though, is hoping that not much will change in finance from its acquisition-powered past under its retiring CFO, Rick Lindner.“Rick and John have worked together closely for more than 15 years, and we expect a seamless transition.” Randall Stephenson, AT&T chairman and chief executive officer, said in the company’s press release.The 56-year-old Lindner is credited by AT&T with helping integrate its acquisitions over a 19-year career that developed it from a regional utility. That M&A included the January 2007 purchase of BellSouth Corp. for more than $80 billion, described by Bloomberg News as the industry’s biggest worldwide deal, Before coming to AT&T, Lindner had served as finance chief of Cingular Wireless, the mobile carrier that is now part of AT&T. “He certainly took a leadership role in transforming AT&T,” said Michael Nelson, an analyst at Mizuho Securities USA Inc., told Bloomberg. The New York-based analyst rates AT&T shares “outperform,” and doesn’t own any. “The company made significant acquisitions, rolling up the sector to become the dominant player it is today.”While AT&T is the largest U.S. phone company, it’s second to Verizon Wireless in mobile subscribers. Verizon gained the top spot after its parent, Verizon Communications Inc., bought Alltel Corp. in January 2009. At the same time, AT&T customers began complaining about dropped calls and other network problems. Revenue from home-phone lines, AT&T’s traditional business, is declining as more customers move to mobile phones and digital service. Sales and net income declined in 2009 amid the global economic crisis.The company rebounded in 2010, benefiting from surging demand for smartphones, including Apple Inc.’s iPhone. Revenue grew 1.4 percent to $124.3 billion last year.AT&T fell 21 cents to $27.92 in New York Stock Exchange composite trading Friday, and has declined 5% this year. Related content brandpost Sponsored by Freshworks When your AI chatbots mess up AI ‘hallucinations’ present significant business risks, but new types of guardrails can keep them from doing serious damage By Paul Gillin Dec 08, 2023 4 mins Generative AI brandpost Sponsored by Dell New research: How IT leaders drive business benefits by accelerating device refresh strategies Security leaders have particular concerns that older devices are more vulnerable to increasingly sophisticated cyber attacks. By Laura McEwan Dec 08, 2023 3 mins Infrastructure Management case study Toyota transforms IT service desk with gen AI To help promote insourcing and quality control, Toyota Motor North America is leveraging generative AI for HR and IT service desk requests. By Thor Olavsrud Dec 08, 2023 7 mins Employee Experience Generative AI ICT Partners feature CSM certification: Costs, requirements, and all you need to know The Certified ScrumMaster (CSM) certification sets the standard for establishing Scrum theory, developing practical applications and rules, and leading teams and stakeholders through the development process. By Moira Alexander Dec 08, 2023 8 mins Certifications IT Skills Project Management Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe