- Rogers Communications, the CEO, Joe, is being replaced at the Canadian telecom by Tony Staffieri as the president and CEO.
- Joe is a world-class telecom leader.
- Edward, the son of founder Ted Rogers, was chosen as chairman in October after Natale left the board
Rogers Communications, the CEO, Joe, is being replaced at the Canadian telecom by Tony Staffieri as the president and CEO. The company announced late on Tuesday.
Company chairman Edward Rogers appreciated the Old CEO for his “leadership and contributions.”
“While Joe is moving on, we had as an experienced interim CEO and also has leadership team who will carry on to focus on the business, return to stability, and close our merger with Shaw,” Edward said in a statement.
The move, which the Globe first reported, has pitted members of the Rogers family against each other. It comes as the company is trying to finalize the $26 billion takeovers of Shaw Communications Inc.
Edward’s sister Melinda, her sister Martha and mother Loretta have all voted against replacing Natale from his position.
“Joe is a world-class telecom leader; we believe he’s the right person to lead RCI as chief executive,” Melinda said.
She said it “creates excellent uncertainty for RCI and its employees, customers, sports fans and shareholders.
“This is simply another case in which Edward has placed his desire for unchecked control over RCI”.
Rogers family in conflict for the future
Edward, the son of founder Ted Rogers, was chosen as chairman in October after Natale left the board.
The company’s chief financial officer Staffieri, left when the plan failed.
Edward used his power as head of the voting that controls 97 per cent of the company’s voting shares to fire five board members.
He was declared the legitimate chair by a British Columbia court on Nov. 5. in B.C., where the company is incorporated.
After that, they could appeal because they were scared that Edward would use his court win to create immediate changes to the management team.
Edward’s lawyers guaranteed the judge that he had no intentions of doing so, so she denied the request for a stay.
In a statement on court win, Edward suggested tha secured Natale’s future at the company. “Mr Natale will remain the CEO and the director of Rogers Communications.
“Unfortunately, a mutually agreeable arrangement could not be reached,” Gemmell said in a statement on Tuesday.
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