Randall Stephenson: Difference between revisions

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'''Randall L. Stephenson''' is an American business executive who served as [[Chairman]] and [[Chief Executive Officer]] of [[AT&T Inc.]], one of the world's largest telecommunications and media companies. During his tenure leading AT&T, Stephenson oversaw the company's transformation from a traditional telecommunications provider into a diversified enterprise spanning technology, media, and entertainment, including the landmark acquisition of [[Time Warner]].<ref name="amacad">{{cite web |title=Randall L. Stephenson |url=https://www.amacad.org/person/randall-l-stephenson |publisher=American Academy of Arts and Sciences |access-date=2026-02-24}}</ref> A lifelong Oklahoman with deep ties to his home state, Stephenson has remained active in corporate governance and higher education leadership following his retirement from AT&T. He serves on the [[Board of Directors]] of [[Walmart Inc.]] and has taken on an influential role at the [[University of Oklahoma]], where he has served as Chair of Football and led the search for a new athletics director.<ref name="si">{{cite news |date=2025-07-08 |title=How Randall Stephenson Suddenly Became Oklahoma's Big Man on Campus |url=https://www.si.com/college/oklahoma/football/how-randall-stephenson-suddenly-became-oklahoma-s-big-man-on-campus-01jznpr86yxd |work=Sports Illustrated |access-date=2026-02-24}}</ref> He is a member of the [[American Academy of Arts and Sciences]].<ref name="amacad" />
'''Randall L. Stephenson''' is an American business executive who served as Chairman and Chief Executive Officer of [[AT&T Inc.]], one of the world's largest telecommunications and media companies. During his tenure at the helm of AT&T, Stephenson led the company's transformation from a traditional telecommunications provider into a diversified enterprise spanning technology, media, and telecommunications.<ref name="amacad">{{cite web |title=Randall L. Stephenson |url=https://www.amacad.org/person/randall-l-stephenson |publisher=American Academy of Arts and Sciences |access-date=2026-02-24}}</ref> His leadership oversaw some of the largest corporate acquisitions in American business history, including the purchase of DirecTV and the landmark acquisition of Time Warner. Since stepping down from AT&T, Stephenson has remained active in corporate governance and in philanthropic and advisory roles, most notably serving on the Board of Directors of [[Walmart Inc.]] and taking on a prominent role at the [[University of Oklahoma]], where he has served as Chair of Football and led the search for the university's athletic director.<ref name="si">{{cite news |date=July 8, 2025 |title=How Randall Stephenson Suddenly Became Oklahoma's Big Man on Campus |url=https://www.si.com/college/oklahoma/football/how-randall-stephenson-suddenly-became-oklahoma-s-big-man-on-campus-01jznpr86yxd |work=Sports Illustrated |access-date=2026-02-24}}</ref> A native of Oklahoma, Stephenson rose through the ranks of the Southwestern Bell Corporation and its successor companies over a career spanning more than three decades, ultimately becoming one of the most prominent figures in American telecommunications.


== Early Life ==
== Early Life ==


Randall L. Stephenson was born and raised in [[Oklahoma City, Oklahoma]]. He grew up in the state that would remain central to both his personal and professional identity throughout his life. Details of his childhood and family background reflect a connection to the broader Oklahoma community. His mother, Carolyn Bradford Stephenson, was reared by Alvie Terrell and Margaret Bradford in [[Russellville, Alabama]], and graduated from the [[University of Alabama]].<ref>{{cite news |date=2025-11-14 |title=Carolyn Bradford Stephenson |url=https://obits.al.com/us/obituaries/mobile/name/carolyn-stephenson-obituary?id=60055665 |work=AL.com |access-date=2026-02-24}}</ref>
Randall L. Stephenson was born and raised in Oklahoma. Details regarding his parents and family upbringing remain largely private. He grew up in the Oklahoma City area, where he developed an early connection to the state that would later define much of his personal and professional identity. Oklahoma remained central to Stephenson's life even as his career took him to the upper echelons of global business; he has maintained deep ties to the state's institutions, particularly the University of Oklahoma, where he has been involved in various capacities over many years.<ref name="si" />
 
Stephenson's Oklahoma roots would later prove significant in shaping his post-corporate career, particularly his involvement with the University of Oklahoma. His upbringing in the state instilled a lasting connection to the university and its athletic programs, a relationship that would become prominent decades later when he assumed leadership roles within OU's organizational structure.


== Education ==
== Education ==


Stephenson earned his [[Bachelor of Science]] degree from the [[University of Central Oklahoma]], located in [[Edmond, Oklahoma]]. He subsequently pursued graduate studies at the [[University of Oklahoma]], where he earned a [[Master of Business Administration]] degree.<ref name="amacad" /> His educational background in Oklahoma laid the foundation for a career that would eventually place him at the helm of one of America's largest corporations. The University of Oklahoma, in particular, would become an institution to which Stephenson devoted considerable time and energy in his post-AT&T career.
Stephenson received his undergraduate education at the [[University of Central Oklahoma]], where he earned a Bachelor of Science degree in accounting. He subsequently pursued graduate studies at the [[University of Oklahoma]], earning a Master of Business Administration (M.B.A.).<ref name="amacad" /> His educational background in accounting and business administration provided the foundation for a career that would span finance, operations, and executive leadership within the telecommunications industry.


== Career ==
== Career ==


=== AT&T Inc. ===
=== Rise Through AT&T ===
 
Stephenson began his career at [[Southwestern Bell Corporation]], one of the regional Bell operating companies created following the breakup of the original AT&T (the Bell System) in 1984. Over the following decades, as Southwestern Bell evolved through a series of mergers and acquisitions — first becoming SBC Communications and then acquiring AT&T Corp. in 2005 and adopting the AT&T name — Stephenson rose through a succession of increasingly senior roles within the organization. His background in accounting and finance positioned him in key operational and financial leadership positions within the company's corporate structure.


Stephenson spent the majority of his professional career at AT&T and its predecessor companies. He rose through the ranks of the organization over several decades, holding a series of progressively senior positions across various divisions of the company. His ascent through the corporate hierarchy reflected expertise in finance, operations, and strategic planning within the telecommunications industry.
Stephenson's career trajectory took him through various divisions and functions of the company, including roles in finance, operations, and corporate strategy. His broad operational experience across the enterprise gave him a comprehensive understanding of the telecommunications business, from network infrastructure to consumer services, and positioned him as a leading candidate for the company's top leadership role.


Stephenson ultimately became the Chairman and Chief Executive Officer of AT&T Inc. As the American Academy of Arts and Sciences noted, in this role he "led its transformation into a global leader in the converging technology, media and telecommunications" sectors.<ref name="amacad" /> Under his leadership, AT&T pursued an aggressive strategy of expansion and diversification. The company moved beyond its traditional identity as a telephone and wireless carrier, seeking to position itself at the intersection of telecommunications, technology, and media content.
=== Chairman and CEO of AT&T ===


One of the defining transactions of Stephenson's tenure was AT&T's acquisition of Time Warner, which brought major entertainment properties—including [[HBO]], [[Warner Bros.]], and [[Turner Broadcasting]]—under the AT&T corporate umbrella. The deal represented one of the largest media mergers in history and reflected Stephenson's strategic vision that the future of telecommunications lay in the integration of content creation and distribution. The acquisition was subject to significant regulatory scrutiny and legal challenge from the [[United States Department of Justice]], but AT&T ultimately prevailed in court and completed the merger.
Stephenson was named Chief Executive Officer of AT&T Inc., succeeding Edward Whitacre Jr. He subsequently assumed the additional role of Chairman of the Board. As Chairman and CEO, Stephenson presided over a period of significant transformation for AT&T, steering the company into new business areas beyond traditional wireline and wireless telecommunications.


During Stephenson's tenure, AT&T also made substantial investments in wireless network infrastructure, including the rollout of advanced [[4G LTE]] and early [[5G]] technologies. The company continued to be one of the largest providers of wireless, broadband, and pay-television services in the United States.
Under Stephenson's leadership, AT&T pursued an aggressive acquisition strategy aimed at positioning the company as a converged technology, media, and telecommunications enterprise.<ref name="amacad" /> Among the most significant transactions during his tenure was the acquisition of [[DirecTV]], the satellite television provider, which expanded AT&T's footprint in the pay-television market. This was followed by the company's pursuit of [[Time Warner]] (later renamed WarnerMedia), a deal that represented one of the largest media acquisitions in history and brought properties including [[HBO]], [[CNN]], and [[Warner Bros.]] under the AT&T umbrella.


Stephenson served as Chairman and CEO until his retirement from AT&T, after which he transitioned into roles on corporate boards and in higher education leadership.
The Time Warner acquisition faced significant regulatory scrutiny and legal challenge from the United States Department of Justice, which sought to block the merger on antitrust grounds. The case went to trial in federal court, and AT&T ultimately prevailed, with the court ruling in favor of the merger. The acquisition closed in 2018, and AT&T subsequently reorganized its media assets under the WarnerMedia banner.


=== Post-AT&T Corporate Governance ===
Stephenson's strategic vision for AT&T centered on the convergence of content and distribution — the idea that a company controlling both the delivery networks (wireless, broadband, and satellite) and premium content (film, television, and news) would be uniquely positioned to compete in an era of digital disruption and streaming media. This strategy was described by the American Academy of Arts and Sciences as leading AT&T's "transformation into a global leader in the converging technology, media and telecommunications" sectors.<ref name="amacad" />


Following his departure from AT&T, Stephenson continued to maintain a presence in American corporate life through board service. He serves on the Board of Directors of [[Walmart Inc.]], the world's largest retailer by revenue. In early 2026, Walmart announced the appointment of Shishir Mehrotra, CEO of Superhuman, to the company's board, with both Walmart Chairman Greg Penner and Stephenson commenting publicly on the appointment. Stephenson's involvement in the announcement reflected his active role within Walmart's board governance.<ref>{{cite news |date=2026-01-12 |title=Walmart Names Shishir Mehrotra to Board of Directors; Greg Penner and Randall Stephenson Comment |url=https://www.delimarketnews.com/behind-counter/walmart-names-shishir-mehrotra-board-directors-greg-penner-and-randall-stephenson-comment/deli-staff/mon-01122026-0851/20810 |work=Deli Market News |access-date=2026-02-24}}</ref>
During his time as CEO, AT&T also invested heavily in the buildout of its wireless network, including significant capital expenditures related to the deployment of next-generation network technologies. The company expanded its fiber-optic broadband footprint and invested in the development of technologies intended to support the growing demand for data services driven by smartphones, streaming video, and the Internet of Things.


His board service at Walmart placed him at the center of strategic discussions affecting one of the most consequential companies in global retail, continuing a pattern of leadership at the highest levels of American business.
Stephenson stepped down as CEO of AT&T, with John Stankey succeeding him in the role. He subsequently departed the chairmanship as well. His tenure at the top of AT&T spanned a period of enormous change in the telecommunications and media industries, marked by the rise of streaming services, the decline of traditional pay television, and intensifying competition among technology and media conglomerates.


=== University of Oklahoma Athletics ===
=== Post-AT&T Corporate Activities ===


In the years following his retirement from AT&T, Stephenson became an increasingly prominent figure at the [[University of Oklahoma]], his graduate alma mater. He assumed the role of Chair of Football at OU, a position that placed him in a significant advisory and leadership capacity within the university's athletics program.<ref name="si" />
Following his departure from AT&T, Stephenson remained active in corporate governance. He serves on the Board of Directors of [[Walmart Inc.]], the world's largest retailer. In this capacity, Stephenson has been involved in key board-level decisions, including the appointment of new board members. In early 2026, Walmart announced the appointment of Shishir Mehrotra, CEO of Superhuman, to the company's Board of Directors, a decision on which Stephenson, along with Walmart Board Chairman Greg Penner, publicly commented.<ref name="walmart">{{cite web |title=Walmart Names Shishir Mehrotra to Board of Directors; Greg Penner and Randall Stephenson Comment |url=https://www.delimarketnews.com/behind-counter/walmart-names-shishir-mehrotra-board-directors-greg-penner-and-randall-stephenson-comment/deli-staff/mon-01122026-0851/20810 |publisher=Deli Market News |date=January 12, 2026 |access-date=2026-02-24}}</ref>


Stephenson's influence at OU came into sharp focus in the summer of 2025, when longtime athletics director [[Joe Castiglione]] departed from his position. University of Oklahoma President [[Joseph Harroz Jr.]] announced that Stephenson would lead the search for the university's next athletics director.<ref name="sbj">{{cite news |date=2025-07-08 |title=OU AD search headed by Randall Stephenson as potential candidates emerge |url=https://www.sportsbusinessjournal.com/Articles/2025/07/08/ou-ad-search-headed-by-randall-stephenson-as-potential-candidates-emerge/ |work=Sports Business Journal |access-date=2026-02-24}}</ref> The announcement signaled the degree to which Stephenson had become a central figure in OU's athletic operations, a role that ''Sports Illustrated'' described by noting that "Stephenson's presence moves to the forefront at OU" during this transitional period.<ref name="si" />
=== Role at the University of Oklahoma ===


The search process attracted considerable attention in college athletics circles. As Chair of Football and leader of the AD search, Stephenson applied the same analytical and strategic approach that had characterized his corporate career. In an account published by On3, Stephenson candidly acknowledged that when he first reviewed the resume of [[Roger Denny]], the candidate did not immediately stand out. However, Stephenson noted that his assessment "quickly changed" as the process moved forward.<ref>{{cite news |date=2026-01-28 |title=Oklahoma adviser admits to blunt first thoughts on Roger Denny as AD candidate |url=https://www.on3.com/college/oklahoma-sooners/news/randall-stephenson-admits-he-initially-passed-on-roger-denny-for-next-oklahoma-ad/ |work=On3 |access-date=2026-02-24}}</ref>
Stephenson has taken on a significant advisory and leadership role at the [[University of Oklahoma]] (OU), particularly in the area of intercollegiate athletics. He has served as Chair of Football, a role that has placed him at the center of major decisions regarding the university's athletics programs.<ref name="si" />


On January 23, 2026, the University of Oklahoma announced the appointment of Roger Denny as its 12th Vice President for Intercollegiate Athletics Programs and Director of Athletics.<ref name="soonersports">{{cite web |title=University of Oklahoma Appoints Roger Denny to Lead New Era of OU Athletics |url=https://soonersports.com/news/2026/1/23/university-of-oklahoma-appoints-roger-denny-to-lead-new-era-of-ou-athletics |publisher=Soonersports.com |date=2026-01-23 |access-date=2026-02-24}}</ref> The appointment was the culmination of the search process that Stephenson had spearheaded.
In July 2025, following the departure of longtime athletic director Joe Castiglione, OU President Joseph Harroz Jr. announced that Stephenson would lead the search for the university's next athletic director. Stephenson's assumption of this role was widely noted in college sports media, with ''Sports Illustrated'' reporting that "Stephenson's presence moves to the forefront at OU" as the university sought new athletics leadership.<ref name="si" /> ''Sports Business Journal'' also reported on the search, noting that Harroz had designated Stephenson to head the effort as potential candidates began to emerge.<ref name="sbj">{{cite news |date=July 8, 2025 |title=OU AD search headed by Randall Stephenson as potential candidates emerge |url=https://www.sportsbusinessjournal.com/Articles/2025/07/08/ou-ad-search-headed-by-randall-stephenson-as-potential-candidates-emerge/ |work=Sports Business Journal |access-date=2026-02-24}}</ref>


Following Denny's appointment, attention turned to the organizational hierarchy within OU athletics and the continuing role of Stephenson. An analysis by 247Sports examined the relationships between new athletics director Roger Denny, university president Joseph Harroz Jr., and Stephenson in his capacity as Chair of Football, exploring how the reporting structure and authority would function among the three figures.<ref>{{cite news |date=2026-02-03 |title=What Randall Stephenson's new role means for AD Roger Denny, OU's organizational hierarchy |url=https://247sports.com/college/oklahoma/article/who-reports-to-who-roger-denny-randall-stephenson-joseph-harroz-272652572/ |work=247Sports |access-date=2026-02-24}}</ref> The coverage reflected the unusual degree of influence that a former corporate CEO had assumed within a major university athletics program, blurring the traditional lines between university administration, booster leadership, and athletics governance.
The search process culminated in January 2026 with the appointment of Roger Denny as OU's 12th Vice President for Intercollegiate Athletics Programs and Director of Athletics.<ref name="soonersports">{{cite web |title=University of Oklahoma Appoints Roger Denny to Lead New Era of OU Athletics |url=https://soonersports.com/news/2026/1/23/university-of-oklahoma-appoints-roger-denny-to-lead-new-era-of-ou-athletics |publisher=Soonersports.com |date=January 23, 2026 |access-date=2026-02-24}}</ref> Stephenson's role in the selection was detailed in media coverage; ''On3'' reported that when Stephenson first reviewed Denny's resume, "it didn't particularly stand out, but that quickly changed," suggesting that Denny's candidacy grew on Stephenson through the interview and vetting process.<ref name="on3">{{cite news |date=2026 |title=Oklahoma adviser admits to blunt first thoughts on Roger Denny as AD candidate |url=https://www.on3.com/college/oklahoma-sooners/news/randall-stephenson-admits-he-initially-passed-on-roger-denny-for-next-oklahoma-ad/ |work=On3 |access-date=2026-02-24}}</ref>


Stephenson's role at Oklahoma represented a significant evolution in the model of alumni involvement in college athletics. Rather than serving solely as a donor or advisory board member, he took on an operational role with direct authority over key personnel decisions. His leadership of the AD search and his continuing position as Chair of Football positioned him as one of the most influential figures in [[Big 12 Conference|SEC]]-era Oklahoma athletics, as the university navigated its transition from the [[Big 12 Conference]] to the [[Southeastern Conference]].
Following Denny's appointment, questions arose about the organizational hierarchy within OU athletics and how the reporting structure would function among Denny, Stephenson, and university president Harroz. ''247Sports'' examined this dynamic, describing the interplay between the new athletic director, the chair of football, and the university president in the governance of Oklahoma's athletics programs.<ref name="247">{{cite news |date=2026 |title=What Randall Stephenson's new role means for AD Roger Denny, OU's organizational hierarchy |url=https://247sports.com/college/oklahoma/article/who-reports-to-who-roger-denny-randall-stephenson-joseph-harroz-272652572/ |work=247Sports |access-date=2026-02-24}}</ref> Stephenson's involvement at OU illustrates the growing trend of prominent business executives taking active governance roles in major college athletics programs, particularly as the landscape of college sports has undergone rapid change due to conference realignment, the introduction of name, image, and likeness (NIL) compensation, and the evolving financial structure of intercollegiate athletics.


== Personal Life ==
== Personal Life ==


Stephenson has maintained his ties to Oklahoma throughout his life and career. His mother, Carolyn Bradford Stephenson, was originally from [[Russellville, Alabama]], and was a graduate of the University of Alabama.<ref>{{cite news |date=2025-11-14 |title=Carolyn Bradford Stephenson |url=https://obits.al.com/us/obituaries/mobile/name/carolyn-stephenson-obituary?id=60055665 |work=AL.com |access-date=2026-02-24}}</ref> Stephenson's deep personal connections to the University of Oklahoma community have been evident in his extensive post-retirement engagement with the institution, including his leadership roles in the university's athletics programs.
Stephenson has maintained a relatively private personal life despite his prominence in the business world. He has longstanding ties to the state of Oklahoma, where he was raised and educated, and has remained connected to the state's institutions throughout his career.<ref name="si" />
 
An obituary published in November 2025 by ''AL.com'' referenced Carolyn Bradford Stephenson, who was described as having been "reared by Alvie Terrell and Margaret Bradford in Russellville, Alabama" and as a graduate of the University of Oklahoma.<ref name="obit">{{cite news |date=November 14, 2025 |title=Carolyn Bradford Stephenson |url=https://obits.al.com/us/obituaries/mobile/name/carolyn-stephenson-obituary?id=60055665 |work=AL.com |access-date=2026-02-24}}</ref>


== Recognition ==
== Recognition ==


Stephenson has been recognized for his contributions to business and public life. He is a member of the [[American Academy of Arts and Sciences]], an honor society founded in 1780 that recognizes individuals who have made distinguished contributions to the arts, sciences, scholarship, and public affairs.<ref name="amacad" /> The Academy's profile of Stephenson noted his leadership in transforming AT&T into a global leader at the convergence of technology, media, and telecommunications.<ref name="amacad" />
Stephenson has received recognition from several organizations for his contributions to business and public life. He was elected as a member of the [[American Academy of Arts and Sciences]], one of the oldest and most prestigious honorary learned societies in the United States. The Academy's profile of Stephenson highlights his role in leading AT&T's transformation into a converged technology, media, and telecommunications company.<ref name="amacad" />


During his time as CEO of AT&T, Stephenson was regularly included in various listings of influential business executives and corporate leaders. His role in orchestrating major mergers and acquisitions, including the Time Warner deal, placed him among the most prominent figures in American telecommunications and media during the 2010s.
During his tenure at AT&T, Stephenson held positions of leadership in several industry and civic organizations. His profile as a corporate leader extended beyond the telecommunications industry, as he was sought out for board positions and advisory roles across multiple sectors, as evidenced by his ongoing service on the Walmart Board of Directors.<ref name="walmart" />


His post-retirement influence at the University of Oklahoma has drawn attention from both business and sports media. ''Sports Illustrated'' profiled his growing role at OU with the headline "How Randall Stephenson Suddenly Became Oklahoma's Big Man on Campus," reflecting the scale of his influence within the university's athletics ecosystem.<ref name="si" /> ''Sports Business Journal'' also covered his leadership of the OU athletics director search, further underscoring his prominence in college sports governance.<ref name="sbj" />
Stephenson's involvement at the University of Oklahoma has further enhanced his public profile, particularly in the world of college athletics, where his leadership of the athletic director search and his role as Chair of Football have drawn significant media attention.<ref name="si" /><ref name="sbj" />


== Legacy ==
== Legacy ==


Randall Stephenson's career arc—from an Oklahoma upbringing through decades of corporate ascent at one of America's oldest and largest companies, to a post-retirement role shaping the future of his alma mater's athletics program—illustrates a model of business leadership that extends beyond the boardroom. His tenure at AT&T coincided with a period of profound transformation in the telecommunications and media industries, as traditional boundaries between content creation, distribution, and technology dissolved. The strategic bets he placed on convergence—most notably the acquisition of Time Warner—reshaped AT&T's identity and influenced the broader competitive landscape of American media.
Randall Stephenson's legacy is most closely associated with his leadership of AT&T during a transformative period in the telecommunications and media industries. His tenure as Chairman and CEO saw the company evolve from a telecommunications carrier into a diversified conglomerate with significant holdings in media and entertainment.<ref name="amacad" /> The strategic decisions made under his leadership — particularly the acquisitions of DirecTV and Time Warner — reshaped the competitive landscape of the American media and telecommunications sectors.
 
The convergence strategy that Stephenson championed at AT&T reflected a broader industry belief that control of both content and distribution would be essential in the digital age. While the long-term success of this strategy has been the subject of ongoing evaluation — AT&T subsequently divested its media assets under his successor — the scale and ambition of Stephenson's moves at AT&T left a lasting imprint on the industry.


At the University of Oklahoma, Stephenson's involvement represented a new paradigm in the relationship between major university athletics programs and their most prominent alumni. His assumption of the Chair of Football role and his leadership of the athletics director search placed a former Fortune 500 CEO in a position of direct operational authority within a Power Five athletics department, a model that attracted both admiration and scrutiny from observers of college sports.<ref name="si" /><ref name="sbj" />
Beyond his corporate career, Stephenson's post-retirement activities have underscored the increasingly prominent role that business leaders play in the governance of American higher education and college athletics. His leadership at the University of Oklahoma during a period of significant transition — including the search for a new athletic director and the restructuring of the athletics program's organizational hierarchy — reflects a model in which experienced executives bring corporate governance practices to bear on the management of large university athletics programs.<ref name="247" /><ref name="soonersports" />


His membership in the American Academy of Arts and Sciences and his continued service on the Walmart board of directors reflect an ongoing engagement with American institutional life across multiple sectors.<ref name="amacad" />
His continued involvement in corporate boardrooms, as evidenced by his role at Walmart, and in institutional governance at OU, positions Stephenson as a figure who remains active and influential in American business and public life following his departure from AT&T.


== References ==
== References ==
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[[Category:Walmart people]]
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[[Category:Oklahoma Sooners]]
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Latest revision as of 06:11, 24 February 2026



Randall L. Stephenson
BirthplaceOklahoma City, Oklahoma, U.S.
NationalityAmerican
OccupationBusiness executive
EmployerWalmart (Board of Directors)
Known forFormer Chairman and CEO of AT&T Inc.
EducationUniversity of Central Oklahoma (B.S.); University of Oklahoma (M.B.A.)

Randall L. Stephenson is an American business executive who served as Chairman and Chief Executive Officer of AT&T Inc., one of the world's largest telecommunications and media companies. During his tenure at the helm of AT&T, Stephenson led the company's transformation from a traditional telecommunications provider into a diversified enterprise spanning technology, media, and telecommunications.[1] His leadership oversaw some of the largest corporate acquisitions in American business history, including the purchase of DirecTV and the landmark acquisition of Time Warner. Since stepping down from AT&T, Stephenson has remained active in corporate governance and in philanthropic and advisory roles, most notably serving on the Board of Directors of Walmart Inc. and taking on a prominent role at the University of Oklahoma, where he has served as Chair of Football and led the search for the university's athletic director.[2] A native of Oklahoma, Stephenson rose through the ranks of the Southwestern Bell Corporation and its successor companies over a career spanning more than three decades, ultimately becoming one of the most prominent figures in American telecommunications.

Early Life

Randall L. Stephenson was born and raised in Oklahoma. Details regarding his parents and family upbringing remain largely private. He grew up in the Oklahoma City area, where he developed an early connection to the state that would later define much of his personal and professional identity. Oklahoma remained central to Stephenson's life even as his career took him to the upper echelons of global business; he has maintained deep ties to the state's institutions, particularly the University of Oklahoma, where he has been involved in various capacities over many years.[2]

Education

Stephenson received his undergraduate education at the University of Central Oklahoma, where he earned a Bachelor of Science degree in accounting. He subsequently pursued graduate studies at the University of Oklahoma, earning a Master of Business Administration (M.B.A.).[1] His educational background in accounting and business administration provided the foundation for a career that would span finance, operations, and executive leadership within the telecommunications industry.

Career

Rise Through AT&T

Stephenson began his career at Southwestern Bell Corporation, one of the regional Bell operating companies created following the breakup of the original AT&T (the Bell System) in 1984. Over the following decades, as Southwestern Bell evolved through a series of mergers and acquisitions — first becoming SBC Communications and then acquiring AT&T Corp. in 2005 and adopting the AT&T name — Stephenson rose through a succession of increasingly senior roles within the organization. His background in accounting and finance positioned him in key operational and financial leadership positions within the company's corporate structure.

Stephenson's career trajectory took him through various divisions and functions of the company, including roles in finance, operations, and corporate strategy. His broad operational experience across the enterprise gave him a comprehensive understanding of the telecommunications business, from network infrastructure to consumer services, and positioned him as a leading candidate for the company's top leadership role.

Chairman and CEO of AT&T

Stephenson was named Chief Executive Officer of AT&T Inc., succeeding Edward Whitacre Jr. He subsequently assumed the additional role of Chairman of the Board. As Chairman and CEO, Stephenson presided over a period of significant transformation for AT&T, steering the company into new business areas beyond traditional wireline and wireless telecommunications.

Under Stephenson's leadership, AT&T pursued an aggressive acquisition strategy aimed at positioning the company as a converged technology, media, and telecommunications enterprise.[1] Among the most significant transactions during his tenure was the acquisition of DirecTV, the satellite television provider, which expanded AT&T's footprint in the pay-television market. This was followed by the company's pursuit of Time Warner (later renamed WarnerMedia), a deal that represented one of the largest media acquisitions in history and brought properties including HBO, CNN, and Warner Bros. under the AT&T umbrella.

The Time Warner acquisition faced significant regulatory scrutiny and legal challenge from the United States Department of Justice, which sought to block the merger on antitrust grounds. The case went to trial in federal court, and AT&T ultimately prevailed, with the court ruling in favor of the merger. The acquisition closed in 2018, and AT&T subsequently reorganized its media assets under the WarnerMedia banner.

Stephenson's strategic vision for AT&T centered on the convergence of content and distribution — the idea that a company controlling both the delivery networks (wireless, broadband, and satellite) and premium content (film, television, and news) would be uniquely positioned to compete in an era of digital disruption and streaming media. This strategy was described by the American Academy of Arts and Sciences as leading AT&T's "transformation into a global leader in the converging technology, media and telecommunications" sectors.[1]

During his time as CEO, AT&T also invested heavily in the buildout of its wireless network, including significant capital expenditures related to the deployment of next-generation network technologies. The company expanded its fiber-optic broadband footprint and invested in the development of technologies intended to support the growing demand for data services driven by smartphones, streaming video, and the Internet of Things.

Stephenson stepped down as CEO of AT&T, with John Stankey succeeding him in the role. He subsequently departed the chairmanship as well. His tenure at the top of AT&T spanned a period of enormous change in the telecommunications and media industries, marked by the rise of streaming services, the decline of traditional pay television, and intensifying competition among technology and media conglomerates.

Post-AT&T Corporate Activities

Following his departure from AT&T, Stephenson remained active in corporate governance. He serves on the Board of Directors of Walmart Inc., the world's largest retailer. In this capacity, Stephenson has been involved in key board-level decisions, including the appointment of new board members. In early 2026, Walmart announced the appointment of Shishir Mehrotra, CEO of Superhuman, to the company's Board of Directors, a decision on which Stephenson, along with Walmart Board Chairman Greg Penner, publicly commented.[3]

Role at the University of Oklahoma

Stephenson has taken on a significant advisory and leadership role at the University of Oklahoma (OU), particularly in the area of intercollegiate athletics. He has served as Chair of Football, a role that has placed him at the center of major decisions regarding the university's athletics programs.[2]

In July 2025, following the departure of longtime athletic director Joe Castiglione, OU President Joseph Harroz Jr. announced that Stephenson would lead the search for the university's next athletic director. Stephenson's assumption of this role was widely noted in college sports media, with Sports Illustrated reporting that "Stephenson's presence moves to the forefront at OU" as the university sought new athletics leadership.[2] Sports Business Journal also reported on the search, noting that Harroz had designated Stephenson to head the effort as potential candidates began to emerge.[4]

The search process culminated in January 2026 with the appointment of Roger Denny as OU's 12th Vice President for Intercollegiate Athletics Programs and Director of Athletics.[5] Stephenson's role in the selection was detailed in media coverage; On3 reported that when Stephenson first reviewed Denny's resume, "it didn't particularly stand out, but that quickly changed," suggesting that Denny's candidacy grew on Stephenson through the interview and vetting process.[6]

Following Denny's appointment, questions arose about the organizational hierarchy within OU athletics and how the reporting structure would function among Denny, Stephenson, and university president Harroz. 247Sports examined this dynamic, describing the interplay between the new athletic director, the chair of football, and the university president in the governance of Oklahoma's athletics programs.Cite error: Invalid <ref> tag; name cannot be a simple integer. Use a descriptive title Stephenson's involvement at OU illustrates the growing trend of prominent business executives taking active governance roles in major college athletics programs, particularly as the landscape of college sports has undergone rapid change due to conference realignment, the introduction of name, image, and likeness (NIL) compensation, and the evolving financial structure of intercollegiate athletics.

Personal Life

Stephenson has maintained a relatively private personal life despite his prominence in the business world. He has longstanding ties to the state of Oklahoma, where he was raised and educated, and has remained connected to the state's institutions throughout his career.[2]

An obituary published in November 2025 by AL.com referenced Carolyn Bradford Stephenson, who was described as having been "reared by Alvie Terrell and Margaret Bradford in Russellville, Alabama" and as a graduate of the University of Oklahoma.[7]

Recognition

Stephenson has received recognition from several organizations for his contributions to business and public life. He was elected as a member of the American Academy of Arts and Sciences, one of the oldest and most prestigious honorary learned societies in the United States. The Academy's profile of Stephenson highlights his role in leading AT&T's transformation into a converged technology, media, and telecommunications company.[1]

During his tenure at AT&T, Stephenson held positions of leadership in several industry and civic organizations. His profile as a corporate leader extended beyond the telecommunications industry, as he was sought out for board positions and advisory roles across multiple sectors, as evidenced by his ongoing service on the Walmart Board of Directors.[3]

Stephenson's involvement at the University of Oklahoma has further enhanced his public profile, particularly in the world of college athletics, where his leadership of the athletic director search and his role as Chair of Football have drawn significant media attention.[2][4]

Legacy

Randall Stephenson's legacy is most closely associated with his leadership of AT&T during a transformative period in the telecommunications and media industries. His tenure as Chairman and CEO saw the company evolve from a telecommunications carrier into a diversified conglomerate with significant holdings in media and entertainment.[1] The strategic decisions made under his leadership — particularly the acquisitions of DirecTV and Time Warner — reshaped the competitive landscape of the American media and telecommunications sectors.

The convergence strategy that Stephenson championed at AT&T reflected a broader industry belief that control of both content and distribution would be essential in the digital age. While the long-term success of this strategy has been the subject of ongoing evaluation — AT&T subsequently divested its media assets under his successor — the scale and ambition of Stephenson's moves at AT&T left a lasting imprint on the industry.

Beyond his corporate career, Stephenson's post-retirement activities have underscored the increasingly prominent role that business leaders play in the governance of American higher education and college athletics. His leadership at the University of Oklahoma during a period of significant transition — including the search for a new athletic director and the restructuring of the athletics program's organizational hierarchy — reflects a model in which experienced executives bring corporate governance practices to bear on the management of large university athletics programs.Cite error: Invalid <ref> tag; name cannot be a simple integer. Use a descriptive title[5]

His continued involvement in corporate boardrooms, as evidenced by his role at Walmart, and in institutional governance at OU, positions Stephenson as a figure who remains active and influential in American business and public life following his departure from AT&T.

References

  1. 1.0 1.1 1.2 1.3 1.4 1.5 "Randall L. Stephenson".American Academy of Arts and Sciences.https://www.amacad.org/person/randall-l-stephenson.Retrieved 2026-02-24.
  2. 2.0 2.1 2.2 2.3 2.4 2.5 "How Randall Stephenson Suddenly Became Oklahoma's Big Man on Campus".Sports Illustrated.July 8, 2025.https://www.si.com/college/oklahoma/football/how-randall-stephenson-suddenly-became-oklahoma-s-big-man-on-campus-01jznpr86yxd.Retrieved 2026-02-24.
  3. 3.0 3.1 "Walmart Names Shishir Mehrotra to Board of Directors; Greg Penner and Randall Stephenson Comment".Deli Market News.January 12, 2026.https://www.delimarketnews.com/behind-counter/walmart-names-shishir-mehrotra-board-directors-greg-penner-and-randall-stephenson-comment/deli-staff/mon-01122026-0851/20810.Retrieved 2026-02-24.
  4. 4.0 4.1 "OU AD search headed by Randall Stephenson as potential candidates emerge".Sports Business Journal.July 8, 2025.https://www.sportsbusinessjournal.com/Articles/2025/07/08/ou-ad-search-headed-by-randall-stephenson-as-potential-candidates-emerge/.Retrieved 2026-02-24.
  5. 5.0 5.1 "University of Oklahoma Appoints Roger Denny to Lead New Era of OU Athletics".Soonersports.com.January 23, 2026.https://soonersports.com/news/2026/1/23/university-of-oklahoma-appoints-roger-denny-to-lead-new-era-of-ou-athletics.Retrieved 2026-02-24.
  6. "Oklahoma adviser admits to blunt first thoughts on Roger Denny as AD candidate".On3.2026.https://www.on3.com/college/oklahoma-sooners/news/randall-stephenson-admits-he-initially-passed-on-roger-denny-for-next-oklahoma-ad/.Retrieved 2026-02-24.
  7. "Carolyn Bradford Stephenson".AL.com.November 14, 2025.https://obits.al.com/us/obituaries/mobile/name/carolyn-stephenson-obituary?id=60055665.Retrieved 2026-02-24.