SBC Names New Operating Chief

SBC ( SBC) named Randall Stephenson chief operating officer.

The big San Antonio, Texas-based telco said Stephenson, 44, who was the company's financial chief, will report to CEO Ed Whitacre. Rick Lindner will take the SBC chief financial officer post. He had been chief financial officer at Cingular Wireless, of which SBC owns 60%. BellSouth ( BLS) owns the rest of Cingular, the nation's No. 2 wireless service provider.

"Randall Stephenson is one of the industry's most talented young executives, and I look forward to his leadership in this new position," said Whitacre.

On Friday, SBC slipped 40 cents, to $24.97.

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