- Edward Whitacre, Jr.
Edward E. "Ed" Whitacre, Jr. (born
November 4, 1941in Ennis, Texas) is a former chairman of the boardand chief executive officerof AT&T Inc.He served as national president of the Boy Scouts of Americafrom 1998-2000.
Whitacre began his career with
Southwestern Bellin 1963as a facility engineer. The following year, he graduated from Texas Tech Universitywith a bachelor's degreein Industrial Engineering.
1988, Whitacre was made president and chief operating officer of Regional Bell Operating Company, Southwestern Bell Corporation. Two years later, Whitacre became chairman of the board and chief executive officer. In 1995, Southwestern Bell Corporationchanged its name to SBC Communications. Whitacre led SBC through a series of mergers and acquisitions in building the largest provider of both local long distance telephone services and wireless service (through its Cingulardivision) in the United States. These acquisitions included Pacific Telesis( 1997), SNET( 1998), ComcastCellular ( 1999), Ameritech(1999) and AT&T( 2005), from which the post-merger company took its name, as well as the 2006acquisition of Bell South.
June 23, 2006, he and the CEO of BellSouthwere brought in under the Senate Antitrust Subcommitteefollowing the AT&T-BellSouth merger. Most questions to Whitacre were regarding possible customer information leaks to the NSA.
April 27, 2007, at the AT&T annual stockholders meeting, Ed announced his intent to retire as Chairman of the Board and chief executive officer at AT&T Inc., effective June 3. The Board of Directors elected Randall Stephenson to succeed Whiteacre as the new CEO and Chairman of the Board. On June 4th, 2007 Ed Whitacre retired with Randall Stephenson taking the helm the following morning (June 5th, 2007). Upon retirement, Whiteacre was eligible for a $158 million payout from AT&T. [ [http://www.washingtonpost.com/wp-dyn/content/article/2007/04/27/AR2007042702276.html Washington Post: Long-Serving AT& T Chief To Leave With Huge Payout] ]
BusinessWeek" reported that, though the CEO of one of the largest and most influential names in telecommunications and its surrounding technology, Whitacre did not use email or have a computer in his office. [ [http://www.businessweek.com/1999/99_15/b3624005.htm BusinessWeek RESUME: Edward E. Whitacre Jr.] ] It has also been reported that Whitacre offered Stephenson three words of advice via text message when the executive change was announced: "Give 'em hell".
It was announced June 2007 that AT&T's San Antonio headquarters building will be named "Whitacre Tower" in recognition of Whitacre's 44 years at the company, 17 of which were spent as chairman and CEO.
June 28, 2007, the City of San Antonio placed Whitacre on the San Antonio River Commission. [ [http://www.kcbd.com/Global/story.asp?S=6731010&nav=3w6y KCBD - NewsChannel 11 / Lubbock, TX: AT&T Headquarters Named after Texas Tech Alumnus] ]
Whitacre's compensation for 2006 totaled $61 million, [ [http://www.washingtonpost.com/wp-dyn/content/article/2007/04/27/AR2007042702276.html Washington Post: Long-Serving AT& T Chief To Leave With Huge Payout] ] $17 million in 2005, and about $14 million in 2004. [ [http://telephonyonline.com/mag/telecom_whitacres_worth/ Whitacre's worth ] ]
Following retirement, under his employment contract Whitacre is entitled to receive for life (except as otherwise noted):
* Automobile benefits (estimated at $24,000 annually)
* Access to AT&T's corporate aircraft, up to 10 hours of usage per month (estimated incremental monthly cost of $20,000)
* Use of AT&T office facilities and support staff
* Home security (estimated at $6,500 annually)
* Payment of applicable taxes resulting from these benefits, except for use of the aircraft (estimated at $19,000 annually)
In addition, Whiteacre has a three year consulting contract with AT&T, by which he will be paid about $1 million annually, and receive: [ [http://phx.corporate-ir.net/phoenix.zhtml?c=113088&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9NDc2MDg4OSZkb2M9MSZudW09NTA%3d 2007 AT&T Proxy Statement] ]
* Club memberships (estimated at $25,000 annually) and
* Payment of applicable taxes resulting from these benefits (estimated at $15,600 annually)
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