AT&T CFO: 'My story is only possible in this country'
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May 17, 2021
AT&T's (
T) new CFO, Pascal Desroches, says his vision of success is leaving the telecommunications and media giant "in better stead than where we found it."
"Ultimately, we are stewards. We inherited a great company, and we need to leave a better company for the next generation," Desroches told Yahoo Finance in a wide-ranging conversation.
Desroches' vision of a great company is leaving AT&T the "best communication and entertainment company in the world" that is "known for innovation" as well as "ethical behavior" and is "operated with integrity."
"That's the goal, and we're committed to it," the CFO added.
Desroches, who officially took the top finance job on April 1, is one of Yahoo Finance's
The Next: 21 to watch in 2021 series, 21 people we believe will leave an indelible mark this year.
As AT&T's finance chief, Desroches allocates capital across the business with a focus on 5G, fiber-optic broadband, the HBO Max streaming service, and, of course, sustaining the dividend.
"[Part] of my effort is to make sure we are generating sufficient cash to ensure that we're able to sustain our dividend, pay down debt and also operate our businesses in a very efficient way," Desroches said.
Desroches, 56, is also among a small number of high-ranking Black executives in corporate America, a statistic he hopes to change.
A Haitian-American, Desroches immigrated to the U.S. with his family at age five, an experience that remains a "foundational piece" of his story with his parents' sacrifices continuing to serve as a source of inspiration.
"When my parents immigrated here — they were in their late 30s, didn't know the language, had to learn the language, secure jobs, and they did it while educating four young children."
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