Friday, June 29, 2007

Alumni in all the right places...

HT to raidertown at the forums for this find:

AT&T renames HQ in honor of Whitacre
Web Posted: 06/28/2007 08:06 PM CDT

Sanford Nowlin
Express-News Business Writer

San Antonio-based AT&T Inc. has renamed its downtown headquarters building "Whitacre Tower" in honor of retired CEO Edward E. Whitacre, the man who led the company through a string of mergers that grew it from the runt of the Baby Bell phone companies into the nation's biggest telecommunications provider.

In addition, the company's AT&T Foundation will provide a $5.35 million grant to Texas Tech University to expand the school's engineering programs. Whitacre, who retired June 3, graduated from Texas Tech with an engineering degree.

AT&T's board approved the renaming of the building at a meeting Thursday.

"Ed Whitacre transformed the company and this industry," said Randall Stephenson, who took over as CEO and chairman after Whitacre's retirement. "It is very fitting that the building where so many industry-changing decisions were made should be named in his honor."

At his retirement, Whitacre was the longest-serving CEO in the telecom industry, having spent 44 years at the company, 17 as chairman and CEO. Whitacre, who led the company during its 1992 relocation to San Antonio, presided over $285 billion in acquisitions, including its takeover last year of BellSouth Corp.

The grant to Texas Tech will create two endowed chairs named for Whitacre in the school's electrical and computer engineering program. It also will create a scholarship named for the retired executive and will expand a university lab that studies light at the subatomic scale.

Tech has always counted on Mr. Whitacre for so much and despite that, he continues to direct substantial gifts to the University. We'll be sure to post more information later on Jerry Rawls, but wanted to be sure that Mr. Whitacre is put in the spotlight for his continued support.


Now about that discount on my new iPhone...

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