Shares of CenturyLink (CTL - Get Report) were higher by 5.08% to $25.65 in mid-morning trading on Thursday, after the communications services company announced its CEO succession plans, naming the person that will take over for current CEO Glen Post effective January 1, 2019.

After the closing of CenturyLink's Level 3 (LVLT) acquisition, current Level 3 president and CEO Jeff Storey will join CenturyLink as president and COO, and it is expected that he will eventually succeed Post as CEO.

"As we move into this next phase of our growth, I am confident in the strength of our position, the scope of our opportunity and Jeff's ability to lead our company forward - first as president and COO and then as CEO," Post said.

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