AT&T planning organizational changes, including new role for CEO

Broadband provider AT&T Inc is planning a redefined role for Chief Executive Randall Stephenson amid major organizational changes following its $85.4 billion acquisition of Time Warner Inc, Bloomberg reported on Friday.

Stephenson will become executive chairman, overseeing a pair of chief executives who will independently manage the company’s telecommunications and media businesses, the report said, citing people familiar with the matter.

AT&T and Time Warner were not immediately available for comment outside regular U.S. business hours.