New AT&T CEO Starts Today; Heavy Spending in iPhone Promotion

AT&T Inc. is undergoing another change Sunday: a new CEO…Randall Stephenson, 47, rose through the ranks of AT&T and previously served as its CFO and COO. He takes over for Ed Whitacre Jr. just prior to the big launch for the company: iPhone. “Whatever your expectations are from this device, they are probably too low…It changes how we think about the PDA the iPod and the cell phone interacting,” he said in an interview with AP.
Reuters: “Apple will do an aggressive launch of the product. We are putting a lot of money behind the launch as well, to drive traffic to the Apple stores and the AT&T wireless stores,” he said. He declined to give a figure for the spending. Stephenson said the iPhone could bolster sales of other phones as consumers are drawn to AT&T stores.