After 28 years with AT&T, CFO John Stephens plans to retire next March. The company named WarnerMedia CFO Pascal Desroches as the successor to Stephens, effective April 1, 2021. Until then, Desroches will serve as AT&T’s senior EVP, finance.
Stephens started his tenure as AT&T’s CFO in 2011, holding the position through the company’s massive acquisitions of DirecTV and Time Warner. Previously, he had served as SVP and controller since November 2001 and before that was the telco’s VP of taxes. He joined AT&T in 1992 as director of federal taxes in St. Louis.
With Desroches set to become AT&T’s CFO, Jennifer Biry, SVP of finance at AT&T and a two-decade veteran of the telco, will move into the chief financial officer role at WarnerMedia.
“I greatly appreciate John’s outstanding leadership, tireless dedication and many significant contributions to AT&T over the years,” AT&T CEO John Stankey said in a statement. “His financial expertise and strong commitment to our investors, employees and customers have been invaluable as we invested to become a leader in connectivity and content. He has helped us maintain the financial strength and flexibility needed to create long-term value for shareowners.”
Regarding Desroches, Stankey commented, “Pascal is an impressive financial executive whose strategic thinking and leadership I’ve seen firsthand at WarnerMedia. His deep and broad experience spans media and telecom, as well as corporate finance, public accounting and regulatory compliance.”
Desroches, prior to serving as CFO at WarnerMedia, was CFO at Turner and global controller at Time Warner Inc. Before he joined Time Warner in 2008, Desroches was a partner at KPMG and served as a senior adviser to the chief accountant of the Securities and Exchange Commission.
Desroches holds a bachelor’s degree in accounting from St. John’s University and an MBA from Columbia Business School.
Pictured above: Pascal Desroches (left), John Stephens