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AT&T's top executive stepping down

SBC Communications Inc. Thursday announced a series of executive moves that will follow the close of its $16 billion purchase of AT&T Corp., saying that AT&T Chairman and Chief Executive David Dorman would step down.
/ Source: Reuters

SBC Communications Inc. Thursday announced a series of executive moves that will follow the close of its $16 billion purchase of AT&T Corp., saying that AT&T Chairman and Chief Executive David Dorman would step down.

SBC, which will adopt the AT&T name after the merger closes, said Ed Whitacre will remain chairman and chief executive officer, while Randall Stephenson will remain chief operating officer. Dorman will become president and a member of the board for what the company called a “brief transition period” before stepping down.

SBC expects to win final approval of its purchase from regulators as soon as next week.