David Dorman
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David W. Dorman (born 1954) is an American Telecommunications executive and founding partner of Centerview Capital Technology Partners.[1] Dave is currently Non-Executive Chairman of the Board of CVS Health Corporation and serves on the boards of PayPal Holdings, Inc., Yum! Brands, Inc. and the Georgia Tech Foundation. Dave was a board member of Motorola, Inc. since 2006, was elected Non-Executive Chairman of the Board in 2008 and retired from his board position in May 2015. Dave also was a board member of Scientific Atlanta until the company was acquired by Cisco Systems in 2006.[2][3]
Early life and education
Dave was born in Georgia, and graduated from the Georgia Institute of Technology in 1975 with a bachelor's degree in industrial management.[4]
Early career
Dave joined a company that was to become Sprint Communications in 1981 as employee number 55. He climbed the corporate ladder to become President of Sprint Business - with 10,000 employees and revenues of $4.5Bn by the time he was 35.[5]
Dave became the youngest CEO of a Baby Bell company at the age of 39 following the decision to join Pacific Bell as President & CEO in 1994. The company was acquired by SBC Communications in 1997, and Dave resigned shortly thereafter to join early news aggregation service PointCast as CEO. Despite lofty expectations PointCast failed to deliver on its potential, and Dave subsequently left to become CEO of Concert Communications Services, a joint venture between BT and AT&T.[6]
Tenure at AT&T
Dave became CEO of AT&T after his predecessor, C. Michael Armstrong, joined Comcast as part of the company's acquisition of AT&T's broadband assets during the summer of 2002.[7] The broadband disposition was one of many high-profile transactions made during Armstrong's tenure. Other notable moves include the acquisition of TCI, Inc in 1998 for $48 billion, and the spin-off of the wireless business into Cingular in 2001.[8][9]
The early part of Dave's tenure as CEO was spent restructuring a stressed balance sheet, and re-positioning the company's product mix in response to dramatic changes in the competitive environment.[10] Ultimately, the decision was made to position AT&T as an enterprise services company in the hope that such a move would make the business more attractive to potential acquirers. After an attempt to sell the business to BellSouth fell through, Dave was able to reach terms with SBC to acquire AT&T during late 2004.[11] Although he initially agreed to join SBC as a President, Dave ultimately elected to pursue other opportunities and parted ways with the business shortly after the acquisition was finalized.[12][13][14]
References
- ^ "Former AT&T CEO joins private equity fund". Fortune. Retrieved 2015-11-24.
- ^ Light Reading - AT&T - Dorman Joins Moto's Board - Telecom News Wire
- ^ Forbes - Motorola Board Elects Telecom-Vet Dorman
- ^ "Student Alumni Association - Expert Jackets: David Dorman". www.gtsaa.com. Retrieved 2015-11-24.
- ^ "David W. Dorman 1954— Biography - Sprint, Pacific bell and sbc, Att, sources for further information". www.referenceforbusiness.com. Retrieved 2015-11-24.
- ^ "AT&T chief lands another SBC merger - CNET". CNET. Retrieved 2015-11-24.
- ^ Journal, Deborah Solomon Staff Reporter of The Wall Street. "AT&T Names David Dorman To Be New Chairman, CEO". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-11-24.
- ^ "USATODAY.com - Book charts AT&T's long, slippery slope". usatoday30.usatoday.com. Retrieved 2015-11-24.
- ^ "AT&T to buy TCI for $48 billion - CNET". CNET. Retrieved 2015-11-24.
- ^ Schiesel, Seth (2001-12-22). "The AT&T Chief's Report Card". The New York Times. ISSN 0362-4331. Retrieved 2015-11-24.
- ^ "SBC to buy AT&T, but analysts question value of the deal - Jan. 31, 2005". money.cnn.com. Retrieved 2015-11-24.
- ^ http://sbc.merger-news.com/materials/am_senior_management.html
- ^ "AT&T CEO Dorman to exit after merger".
- ^ SBC Gains AT&T, But Not Its Chairman - E-business & Business Technology News by TechWeb