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Cable Exec leaves AT&T
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October 6, 1999: 9:35 a.m. ET
Hindery latest of several to quit; Company sets venture with IBM
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NEW YORK (CNNfn) - AT&T Corp. said Wednesday that Leo Hindery, president and CEO of its cable television unit, is leaving the company, the latest in a string of executives to quit the nation's No.1 telecom.
Separately, AT&T and IBM Corp. announced an alliance to jointly develop e-business solutions for small and mid-sized businesses.
AT&T said Hindery, president of AT&T Broadband & Internet Services, is leaving the company "to pursue other interests."
Hindery will remain a strategic advisor to AT&T Chairman and CEO C. Michael Armstrong on cable issues, with specific focus on acquisitions, clustering and industry relations.
Daniel Somers, currently senior executive vice president and chief financial officer of AT&T, will temporarily assume responsibility for the operational leadership of ABIS.
The agreement with IBM (IBM) will provide e-business solutions through the AT&T and IBM joint channel partners and include IBM software, a choice of IBM servers, and managed Internet connectivity provided by AT&T.
Shares of AT&T (T) closed up 1-1/4 at 45 on Tuesday. IBM rose 2-1/8 to 122. 
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