The board of directors of AT&T Inc. has selected an individual who served as Chairman of the FCC from 1997 through the inauguration of George W. Bush as U.S. President nearly 20 years ago.
For industry veterans, the name is instantly recognizable, as Bill Kennard — two decades later — is a Chairman once again.
This time it is for the parent of DirecTV and AT&T TV NOW, entities that have largely captured headlines of late for their tough negotiations on retransmission consent fees with broadcast TV station ownership groups.
Kennard will assume the role effective January 2021, upon the retirement of Randall Stephenson, currently AT&T’s executive chairman of the board. He retired as CEO of AT&T on June 30.
Kennard joined AT&T’s board of directors in 2014. He currently serves on the corporate governance and nominating committee and the public policy and corporate reputation committee.
AT&T announced earlier this year its plan to elect an independent chairman when Stephenson retired from the board at the start of 2021, after serving as chairman since 2007.
Kennard served as general counsel to the FCC from 1993-1997, before rising to Chairman in the second of President Clinton’s two terms in office.
From 2009 to 2013, he served as the U.S. Ambassador to the European Union.
Kennard also has held positions with The Carlyle Group, a global asset management firm, at which he led investments in the telecommunications and media sectors, and the law firm of Verner, Liipfert, Bernhard, McPherson and Hand (now DLA Piper), where he was a partner and member of the board of directors.
“It’s an honor to be selected to serve as chairman of AT&T’s board of directors,” Kennard said. “On behalf of the board, I want to thank Randall for his outstanding leadership and countless contributions as chairman. We wish him all the best. I look forward to working with our CEO and fellow board member John Stankey and the entire board to continue creating long-term value for all stakeholders – investors, customers, employees and the communities we serve.”
Kennard also serves on the boards of Duke Energy Corporation, Ford Motor Company and MetLife, Inc. He is also co-founder of Astra Capital Management, a private equity firm.
