AT&T Inc. Chief Executive Randall Stephenson said he will retire at the end of June, handing leadership of one of the world’s largest media and telecommunications companies to longtime deputyJohn Stankey.

Mr. Stephenson said he will remain chairman of the Dallas company until January, when the company is expected to elect an independent chairman. The change was announced at the company’s annual meeting Friday, which was held online because of the coronavirus pandemic.

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