In 1991, Vaughn Bryson was named CEO of Eli Lilly. During his 20-month tenure, the company reported its first quarterly loss as a publicly traded company. In 1993, Randall L. Tobias, a vice-chairman of AT&T Corporation and Lilly board member, was named Lilly's chairman, president, and CEO after "product and competitive pressures" had "steadily eroded Lilly's stock price since early 1992." Tobias was the first president and CEO recruited from outside of the company. Under Tobias's leadership the company "cut costs and narrowed its mission". Lilly sold companies in its Medical Device and Diagnostics Division, expanded international sales, made new acquisitions, and funded additional research and product development. Sidney Taurel, former chief operating officer of Lilly, was named CEO in 1998, replacing Tobias. Taurel was named chairman in January 1999. In 2000, Lilly reported $10.86 billion in net sales.