Randall Stephenson

Randall L. Stephenson
Birthplace	Oklahoma City, Oklahoma, U.S.
Nationality	American
Occupation	Business executive
Employer	Walmart (Board of Directors)
Known for	Former Chairman and CEO of AT&T Inc.
Education	University 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 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. 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. He is a member of the American Academy of Arts and Sciences.

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.

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

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. 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.

Career

AT&T Inc.

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 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. 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.

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.

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.

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.

Post-AT&T Corporate Governance

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.

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.

University of Oklahoma Athletics

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.

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. 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.

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.

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. The appointment was the culmination of the search process that Stephenson had spearheaded.

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. 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.

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 SEC-era Oklahoma athletics, as the university navigated its transition from the Big 12 Conference to the Southeastern Conference.

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. 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.

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. 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.

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.

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. Sports Business Journal also covered his leadership of the OU athletics director search, further underscoring his prominence in college sports governance.

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.

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.

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.