Chief Future Officer: Pascal Desroches, AT&T

Strategic Shift & Focus - AT&T shifted its focus to connectivity, recognizing the need to simplify the business and concentrate on its core strengths [2][3] - The company is prioritizing investment in fiber and 5G wireless to meet the growing demand for higher bandwidth and faster speeds [12][13] - AT&T aims to be the leading provider in total industry spend, focusing on capturing a higher share of wallet, potentially through both fixed and wireless services [18] Financial Restructuring & Investment - AT&T has been rightsizing its balance sheet and investing significantly in its core businesses to drive growth [8] - The company plans to spend approximately $22 billion annually in capital expenditures (CapEx) over the next three years, primarily to expand fiber reach and modernize the wireless network [21] - AT&T is committed to returning $40 billion to shareholders through dividends and buybacks [25] Network Transformation & Technology - AT&T is decommissioning its legacy copper network with a goal to be out of the copper business by the end of 2029, which will eliminate approximately $6 billion of total expenses over time [19][20] - The company is selling decommissioned copper, generating attractive returns at current prices [20][21] - Fiber is considered a future-proof technology, offering symmetrical data speeds, lower maintenance costs (35% less), and 70% less energy consumption compared to copper [14][42] Market Position & Competition - AT&T is a clear leader in fiber subscribers but trails competitors in wireless subscribers [16] - The company agreed to acquire Lumen Technologies' consumer fiber business, adding approximately 45 million active homes passed, with potential to grow to nearly 10 million [31] - AT&T recognizes the need to be more effective in price-sensitive segments to avoid disruption and maintain competitiveness [50][51]