Randall Stephenson retired as chairman and CEO of AT&T in June 2020. During his tenure, the Dallas-based telecommunications giant was – and remains – a major...
of his letter that was dated Saturday and said the tour's framework agreement with Saudi Arabia's Public Investment Fund"is not one that I can objectively evaluate or in good conscience support, particularly in light of the U.S. intelligence report concerning Jamal Khashoggi in 2018."contributing columnist and critic of Saudi Crown Prince Mohammed bin Salman, was slain at the Saudi consulate in Istanbul in 2018. U.S.
The agreement, which still requires PGA Tour board approval and is being looked at by the Justice Department, would create a for-profit company in which the PIF, the PGA Tour and the European tour would pool their commercial business and media rights. Monahan would be the CEO and Yasir Al-Rumayyan, the PIF governor, would be chairman of the new company. Al-Rumayyan also would have a seat on the PGA Tour board, though the PGA had assurances in the preliminary deal that it would always have a majority vote.Stephenson said he intended to resign on June 12, but then Monahan stepped away with a medical issue. Monahan announced Friday he would return to work on July 17.
The resignation comes three days before Dunne and Ron Price, the tour's COO, are to testify before a Congressional subcommittee that wants more details on the partnership between the PGA Tour and the Saudi wealth fund.According to the tour's bylaws, the four independent directors are to choose who replaces Stephenson after consulting with the five players on the board and John Lindert, the PGA of America president who is a non-voting board member.
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