Brown guided AT&T through one of the largest corporate reorganizations in United States history by settling the government’s antitrust case in 1982. He successfully divested of AT&T’s local phone businesses and in the process, created business entities that have produced average annual returns to investors of 25%. In the process, he reinvigorated AT&T’s research and development efforts and continued to solidify AT&T’s 70% market share of long distance phone business.