The coronavirus pandemic will alter consumer behavior across the entire business landscape, AT&T President and COO John Stankey said Wednesday.

"Not just AT&T, every company is going to see consumer behavior changes coming out of this event," Stankey told CNBC's Julia Boorstin. "I don't expect we're going to return to 'normal.'"

"We're going to return to a different economic environment. We're going to return to different business models," Stankey added on "Power Lunch."

Stankey's comments came shortly after AT&T announced that Hulu co-founder Jason Kilar would take over as CEO of WarnerMedia on May 1. Kilar will report to Stankey, who had been serving as WarnerMedia CEO.

Stankey said he believes AT&T, with its diverse business units, is well situated to navigate a post-pandemic world.

"Certainly, connectivity has gotten no less important going through this dynamic," he said. "If anything, the networked world, and the versatility of it, has demonstrated just how strong and powerful an engine it can be to maintaining some degree of normalcy."

The entertainment side of AT&T's business also continues to show its relevancy as tens of millions of Americans stay at home, Stankey argued.

"We're clearly seeing that people are resonating with an opportunity to spend their time looking for great stories and emotional attention and distraction during some very difficult circumstances," he said.