AT&T; Names Robert Allen CEO

American Telephone & Telegraph Co.’s board elected President Robert E. Allen as chairman and chief executive officer to succeed James E. Olson, who died from cancer two days ago, the company said today.

AT&T; also announced today its profit rose 10.6% in the first quarter to $492 million, equaling 46 cents per share, up from $445 million, or 40 cents a share, a year earlier. Allen, 53, had been serving as acting chairman and was considered a clear favorite to succeed the man who guided AT&T; out of the confusion surrounding the 1984 breakup of the Bell System. The board named no successor for Allen as president.