John Stankey

Stephen Desaulniers | CNBC

AT&T announced Tuesday that WarnerMedia CEO John Stankey will become its new president and chief operating officer.

It said Stankey will continue as CEO of WarnerMedia while taking on the newly created position, effective Oct. 1.

As president and COO, Stankey will report to AT&T chairman and CEO Randall Stephenson.

The promotion comes just months after WarnerMedia announced an organizational shift under its new parent company, AT&T. The change was billed as a way for WarnerMedia to grow into business that can effectively compete with the likes of established streaming giants like Netflix and newer streamers like Disney. Several top executives from the former Time Warner had already stepped down from their posts prior to the announcement, including former HBO chief Richard Plepler.

Stankey will oversee executives at AT&T Communications and the company’s advertising and analytics division, Xandr, in addition to his team at WarnerMedia, according to the announcement.

AT&T also announced that Jeff McElfresh will become CEO of AT&T Communications, effective next month. McElfresh will replace John Donovan, who previously announced his retirement, AT&T said. McElfresh will report to Stankey.

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