Page 35 - SAMENA Trends - September 2019

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

AT&T Names John Stankey President & Chief Operating Officer and Jeff
McElfresh CEO of AT&T Communications

AT&T announced that John Stankey has been appointed President shape our strategy and excelled at operations throughout his
and Chief Operating Officer of AT&T., effective October 1, a new career. The Board and I look forward to John hitting the ground
position reporting to Randall Stephenson, AT&T Chairman and running in his new role as president and COO,” Stephenson
CEO. Stankey will also continue serving as CEO of WarnerMedia. said. “And I’m excited to have Jeff leading our communications
The company named AT&T executive Jeff McElfresh CEO of business into the future. He is an accomplished leader with
AT&T Communications LLC effective October 1, replacing John experience across our business — from strategy, technology and
Donovan, who earlier announced his retirement. McElfresh will network, to marketing, operations and customer experience. This
lead AT&T’s largest business unit, AT&T Communications, a past year, Jeff led the team that won AT&T recognition for having
global telecom leader serving 100 million mobile, broadband and the best, fastest and most reliable wireless network in the country,”
pay-TV customers in the United States, and millions of business Stephenson said. Stankey, 56, joined AT&T in 1985 and has served
customers, including nearly all of the Fortune 1000. Reporting in a variety of leadership roles, including: corporate strategy and
to Stankey in his expanded role will be: McElfresh; his current M&A; media and entertainment; operations, IT and technology;
WarnerMedia executive team; and Brian Lesser, CEO of Xandr. consumer mobility, broadband and TV; and enterprise business.
“Now is the time to more tightly align our collection of world- McElfresh, 48, has nearly 25 years of experience with AT&T in a
class content, scaled consumer relationships, technical know- variety of strategic, operational and technology leadership roles.
how and innovative advertising technology,” said Stephenson. Before being named to lead AT&T Communications, McElfresh was
“It’s the natural next step in bringing together the distinct president of AT&T Communications’ Technology and Operations
and complimentary capabilities of AT&T Communications, group where he was responsible for the company’s network,
WarnerMedia and Xandr to deliver for consumers the benefits of technology, cybersecurity, data and labs operations. Prior to that,
a modern media company. AT&T is alone in the industry in being he served as: CEO of AT&T’s Vrio and its DIRECTV Latin America
able to bring together these three great businesses for the launch and SKY Brasil businesses; and President of AT&T Mexico and
of innovative consumer offers, relevant advertising and new a member of the board of directors and executive committee of
entertainment services like HBO Max. “John is an outstanding Telmex and América Móvil, overseeing AT&T’s since-divested
executive who has led nearly every area of our business, helped minority interest in the two companies.

Jeff McElfresh, CEO of AT&T Communications John Stankey, President and Chief Operating Officer, AT&T Inc.

AT&T Declares Quarterly Dividend, on Track to Deliver Record Free Cash
Flow and Strong Dividend Coverage for 2019

The board of directors of AT&T Inc declared a quarterly dividend of $0.51 a share on
the company’s common shares. The dividend is payable on November 1, 2019, to
stockholders of record at the close of business on October 10, 2019. Through 2018,
AT&T has increased its quarterly dividend for 35 consecutive years, and the company’s
strong cash flows have allowed it to support a strong dividend policy. In the first half
of 2019, AT&T generated $14.7 billion in free cash flow with a free cash flow dividend
payout ratio of 50.6%, down from 77.3% in the first half of 2018. The company expects
full-year 2019 free cash flow in the $28 billion range, with a full-year dividend payout
ratio in the 50% range versus 60% in 2018.
35 SEPTEMBER 2019