Randall Stephenson says he isn’t actively looking to sell or spinoff DirecTV right now, but the AT&T chief admitted there are no “sacred cows” in his portfolio. And the AT&T executive team has orders from Stephenson to commence another review of their holdings.
“[DirecTV] will be an important piece of our strategy over the next three years,” Stephenson said Monday on a conference call with media analysts and reporters. “But no portion of our business is ever exempt from a continuous assessment for fit and performance.”
“We’ll approach it with a fresh set of eyes and clarity,” he continued. “And we’ll evaluate multiple options that includes partnerships and other structures.”
The conference call was a particularly packed one. Not only did Stephenson (pictured above) have AT&T’s third-quarter 2019 financials to go over, he also unveiled his three-year plan.
Also on Monday, Stephenson promised shareholders that he would remain AT&T CEO through at least 2020. Stephenson said he has been talking with the board of directors to set up a “detailed plan” for succession when the time comes, however.
That doesn’t mean there are any “formal plans” right now though, Stephenson said.
Read more about AT&T’s Q3 earnings and its three-year plan here.