rogers communications inc. The board of directors will meet next week in which the post of chairman will be discussed. A source familiar with the plan says Edward Rogers’ future talks with the company’s management come in light of Rogers’ failed attempt to oust the telecom giant’s chief executive.
As per the source, the board meeting is planned for the week of October 18, which will be The The Granthshala and Mail could not be identified as the person is not authorized to speak publicly about the matter. Rogers is due to release its third-quarter results that week, October 21.
Mister Rogers did not respond to an e-mail Comment request.
Rogers chairman fails to remove CEO amid power struggle with sister, board
Rogers exiting as Telecom seeks approval for Shaw acquisition
The Granthshala reported last Friday that Mister Rogers unsuccessfully attempted to remove the company’s CEO Joe Natale from the top job and replace him with the company’s chief financial officer, Tony Stafieri, according to three sources familiar with the situation. One of the sources said Mr Rogers was also planning to sack other members of the company’s executive leadership team. (The Granthshala is not identifying the sources because they are not authorized to discuss the matter.)
Sources said during an emergency board meeting on Sunday, September 26, Melinda Rogers-Hickson, the deputy chairman of the family-controlled company and Mr Rogers’ sister, strongly opposed her brother’s plan. Instead, the board and the overwhelming majority of the family extended their support to Mr. Natale and his management team. Mr Stafieri, who joined Rogers in 2012 before Mr Natale’s arrival – and is known to have clashed with him – Exited the company on 29 September.
News of a power struggle at Canada’s largest wireless carrier comes as Rogers seeks regulatory approval of his deal to acquire Shaw Communications Inc., including debt, for $26 billion. Three federal bodies – the Competition Bureau, the Canadian Radio-television and Telecommunications Commission and the Ministry of Innovation, Science and Economic Development – are reviewing the acquisition.
A spokesman for Rogers said the company’s CEO and management team are focused on running the business. “This includes successfully coming together with Shaw to increase connectivity for rural, remote and Indigenous communities and increase competitiveness by accelerating the rollout of our 5G network across Canada,” Scott Davidson said in a statement.
Shaw’s spokesperson declined to comment.
Shaw’s acquisition is expected to face intense scrutiny from regulators, as it will reduce competing numbers. Wireless carriers from four to three in Ontario, Alberta and British Columbia. Some analysts predict that Rogers will have to sell Shaw’s wireless businesses, Freedom Mobile and Shaw Mobile, to gain approval for the acquisition.
The executive business has plagued Rogers since the death of its founder, Ted Rogers, in 2008. The company has since had three CEOs, starting with Rogers veteran Nadir Mohamed, who resigned from the top job in 2013.
Edward Rogers personally led the campaign to recruit Guy Lawrence, who had previously headed Vodafone Group plc’s telecommunications business in the UK, for the top job. But Britt Brit suddenly left less than three years later.
He is said to have been replaced in 2017 by Mr. Natale, the former CEO of Telus Corp. Mr. Rogers is said to have led the recruitment effort and helped negotiate a deal that freed Mr. Natale from a lengthy non-compete agreement with Tellus.
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