SAN ANTONIO - After an acquisition binge that transformed the smallest Baby Bell into a telecommunications heavyweight, AT&T Inc. is undergoing another change today: a new chief executive.

Randall Stephenson, 47, rose through the ranks of AT&T and previously served as its chief financial officer and chief operating officer. He is credited with helping position the company so it could afford the buying spree that turned it into the nation’s largest provider of traditional phone, wireless and broadband services.

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