In a few days, AT&T Inc.'s COO Randall Stephenson will take the reins from Edward Whitacre as chairman and CEO. Stephenson is already talking strategy — at a recent Lehman Brothers Inc. conference, Stephenson reportedly said that he was content with AT&T's size domestically but was open to overseas deals. In his 17 years at the helm, Whitacre turned the "Baby Bell" into the No. 1 wireless and broadband service provider in the U.S. It's not so easy to guess what the global telecom scene will look like when Stephenson's turn to retire comes around, but it's his job to try. — Baz Hiralal

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