Lumen's Stansbury talks plans to play offense post-divestitures

Lumen Technologies completed one major business divestiture last month and are close to wrapping another. Company CFO and EVP Chris Stansbury said the pair of deals will help the company allocate resources to other products at a time when Lumen is starting to see big growth opportunities. “The company is going to get smaller before it gets bigger again,” Stansbury said. But he added that shedding businesses–the recent sale of Lumen’s Latin America business and the pending sale of ILEC properties to Apollo Global Management–will allow Lumen to invest more efficiently across its remaining products and services. Stansbury said that as a smaller company Lumen also will continue to examine its corporate overhead cost structure for opportunities to control costs, but he emphasized that the company “sees a pathway to growth” over the next two to three years.