AT&T's Whitacre to retire, Stephenson steps up

AT&T chairman and CEO Ed Whitacre will retire in June after 17 years at the helm of the company. AT&T COO Randall Stephenson, a 25-year company veteran, is Whitacre's chosen successor. Stephenson was chairman of the board at Cingular Wireless and has said that wireless will become the cornerstone of AT&T's bundled offerings. Stephenson was also a key architect of the recent BellSouth acquisition. The transition from Whitacre to Stephenson comes during the same month as the launch of the iPhone, which will be exclusive to AT&T's wireless subscribers.

For more on Whitacre's retirement and his successor:
- see this WSJ article (sub. req.)