AT&T has revealed plans to welcome two new members to its board of directors.

At the same time, the company will review the possibility of selling $10 billion in assets next year, following pressure from activist investor Elliott Management.

Elliott Management disclosed its significant $3.2 billion stake in AT&T in September and has been advocating for changes within the company ever since. The investor is urging AT&T to cut expenses and revise its current expansion strategies. To fulfill these demands, Elliott recommended managerial alterations, which have now been implemented. A meeting between the two parties took place in early October to address these concerns, as reported by Reuters.

AT&T, a major player in the telecommunications industry, is currently contending with notable financial difficulties. In an effort to alleviate its substantial debt, which stood at $153.5 billion at the close of the third quarter, the company has been actively divesting non-core assets worldwide.

Despite AT&T’s statement affirming that current CEO Randall Stephenson will retain his position until at least the end of 2020, a letter from Elliott Management to AT&T shareholders suggests that potential Chief Executive candidates will be evaluated. Elliott Management commended AT&T for the recent strategic announcements, anticipating the creation of significant and lasting shareholder value within one of America’s prominent corporations.