Leadership, Strategy, and Expansion Perspectives from AT&T's CFO, Pascal Desroches
Hailing from New York City, Pascal Desroches didn't dream of spearheading financial strategy for a $122 billion telecommunications giant; instead, his primary ambition was to master the English language.
Born in a Haitian family of four, Pascal, at five, entered American kindergarten, striving to learn English alongside fulfilling academic tasks. His family, comprising immigrants with ages ranging from two to 10, welcomed this challenge by enrolling in local church courses, aiding their English learning process – a formative experience that imbued him with a resolute and determined spirit.
Growing up in a suburban neighborhood, Pascal and his siblings attended public schools and forged successful careers. Earning his bachelor's degree in accounting from St. John's University, he secured his first job with Peat Marwick & Mitchell (now KPMG). Over a grueling yet rewarding twelve-year stint, Pascal honed his skills in audit practice, before Columbia University honored him with an MBA, with KPMG sponsoring his studies.
An extended affiliation with the Securities and Exchange Commission (SEC) followed, where Pascal proudly served as a professional accounting fellow under the Office of the Chief Accountant. Spurred by a serendipitous encounter with the Time Warner controller – a former fellow in the SEC too – Pascal seized this opportunity to join the media titan.
As luck would have it, the merger of Time Warner with AT&T commenced, and Pascal positioned himself to navigate the new terrain, working diligently on realigning strategic goals and overcoming the challenges posed by immense company debt and the impending pressure of a $15 billion annual dividend obligation.
With understated but inarguable fortitude, AT&T endeavored to reshape its identity, divesting the DirecTV business, reducing its annual dividend, and committing to a massive deleveraging strategy – a plan that culminated in the reduction of debt by over $40 billion, while simultaneously spawning growth in earnings, revenues, subscribers, and cash.
Presiding over this transformation as the CFO was none other than John Stankey, whom Desroches admires for his courage and vision. Stankey, formerly a long-standing AT&T executive, boldly deviated from the company's established strategy, embracing a new course to reposition AT&T as a telecommunications powerhouse, stepping into its historical prominence in the industry.
This legacy is a heavy responsibility that Pascal Desroches feels keenly, understanding that its future hinges on adaptability, innovation, and resilience. The mutually respectful and collaborative relationship he shares with his CEO has played a crucial role in ensuring AT&T's metamorphosis and securing its bright future.
In championing and enabling its transformation, Pascal recognized the significance of humility, collaboration, and resilience – qualities essential to his professional and personal growth. By seeking out the best possible team, fostering a culture of mutual respect, and embracing challenges with infectious optimism, Pascal has consistently pushed the boundaries of his potential and helped lead AT&T to unprecedented success.
- Pascal Desroches, now serving as the CFO of AT&T, played a significant role in agreeing to the 1cf96bd23b4dfcad1251cc0d776c068a acquisition of Time Warner Spectrum, which further solidified AT&T's position in the telecommunications industry.
- As the CFO of AT&T, Pascal Desroches led the financial strategy for the company, overseeing several acquisitions and mergers, including the one with Time Warner, which was valued at $122 billion.
- During his tenure at AT&T, Pascal Desroches, the CFO, played a key role in the company's acquisitions, including the acquisition of Time Warner's spectrum, which significantly boosted AT&T's overall financial performance.
- In his role as CFO, Pascal Desroches led AT&T in several strategic acquisitions, such as the Time Warner acquisition, which was one of the largest in the telecommunications industry, and agreed to the 1cf96bd23b4dfcad1251cc0d776c068a acquisition to enhance AT&T's market position.
