AT&T Vice President Jumps Sinking AT&T Ship
When Alex J. Mandl left his vice-president position with the largest telephone company (AT&T) to take a position with Associated Communications, a subsidiary of Associated Communications based in Pittsburgh, Pennsylvania the market noticed.
Mandl was expected to replace chairman and chief executive Robert Allen when he retires in the year 2000.
The stock market welcomed Mandl as The Association Group's stock rose 3 3/8.
Back over at AT&T the news was not taken so well. AT&T's stock on the same day plummeted 1 1/4 to 54 1/4.
Chairman Allen in addressing Mandl's departure stated that it is not unsual for startups in 'this industry' to attract high-level management.
Very little sprang out from the AT&T group but one executive felt that nothing would change.
Mandl has a thing for cellular communications.
Mandl had been with AT&T since 1991 when he became chief financial officer where he played a major role in the $11 billion acquisition of McCaw Cellular Communications Corp.
Now at Associated Communications Mandl will have his chance to as he said "succeed personally, professionally and financially on an entirely new level."
Associated Communications has major investments in several Mexican wireless companies.