AT&T Chief Financial Officer Rick Lindner will retire on June 1, 2011, the company said Friday.
Lindner, who has served in his current role since 2004, will be replaced by current AT&T Controller John Stephens.
Stephens has been with AT&T for 19 years, and has worked closely with Lindner for 15 years.
AT&T chairman and chief executive officer Randall Stephenson said in the press release that he expects a "seamless transition."
Stephens first served as vice president of taxes, before taking on his current role as controller in 2001.
Shares of AT&T, a component of the Dow Jones Industrial Average, were lower in late trading. Get real-time AT&T quotes here.