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Whitacre to leave AT&T in June

Edward Whitacre, chief executive of AT&T and a 43 year veteran of the US telco is to step down from his post in June.

Chief operating officer, Randall Stephenson, will replace him as both chief executive and chairman.

Whitacre, who earned over $31m in pay last year, is expected to receive a $158m retirement package – one of the biggest payouts ever in the US. He will also be on a retainer as a consultant for three years.

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