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News > Technology
AT&T to hire COO?
November 21, 2000: 7:02 a.m. ET

Telecom giant may put new executive in place to manage spin-offs - report
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NEW YORK (CNNfn) - AT&T Corp. may bring in a chief operating officer to help oversee the breakup of the telecommunications company into three stand-alone businesses, the Wall Street Journal reported Tuesday, citing people familiar with the situation.

The chief operating officer would play a part in helping AT&T in its restructuring efforts, the paper said. Among the changes planned are a spinoff of its wireless and broadband divisions and a tracking stock for its consumer long-distance business, the biggest in the United States.

graphicOnce the restructuring is complete, the executive might take over as head of the Business Services unit, the paper said. The operating chief would initially report to AT&T Chairman and Chief Executive Officer Michael Armstrong, according to the Journal.

"There's a thought out there that Mike needs a spin-off specialist to sort these things out," the newspaper quoted an unnamed person close to the situation as saying.

Among the internal frontrunners for the new slot is 41-year-old David Dorman, the Journal said. Dorman currently heads Concert, AT&T's (T: Research, Estimates) international joint venture with British Telecommunications PLC.

AT&T stock fell 69 cents to $19.38 Monday, nears its 52-week low and well off its high of $61. graphic

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.