AT&T Taps WarnerMedia's Desroches CFO, Succeeding Stephens

AT&T tapped WarnerMedia's Pascal Desroches as CFO, to succeed John Stephens, who is set to retire in March.
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AT&T  (T) - Get Report tapped Pascal Desroches chief financial officer to succeed John Stephens, who is set to retire in March.

Desroches is CFO at the telecom-service provider's WarnerMedia subsidiary.  Desroches will succeed Stephens starting April 1.  

Stephens will retire after 10 years in the post, the company said on Tuesday. He's worked with AT&T for 28 years. 

During the transition, Desroches will serve as AT&T’s senior executive vice president of finance, the company said.

Bloomberg reported that this move reflects Chief Executive John Stankey’s continuing efforts to integrate the company’s media business and focus on core areas, including wireless, fiber-optic broadband and the HBO Max streaming service.

Stephens's financial expertise and strong commitment to our investors, employees and customers have been invaluable as we invested to become a leader in connectivity and content," added Stankey.

Stankey called Desroches an "impressive financial executive."

Prior to serving as CFO at WarnerMedia, Desroches was CFO at Turner and global controller at Time Warner. Before he joined Time Warner, Desroches was a partner at KPMG.

"His deep and broad experience spans media and telecom, as well as corporate finance, public accounting and regulatory compliance,” Stankey said. 

Desroches holds a BS in accounting from St. John’s University and an MBA from Columbia University Business School. 

Shares of AT&T at last check were little changed at $28.97.