Rogers has announced that John A. MacDonald has assumed the role of Chairman of the Board of Directors of Rogers Communications Inc.
The move follows a family power struggle amidst the company’s attempt to close a $26 billion proposed takeover of Shaw Communications that’s set to go before the CRTC at the end of November.
“This has been a challenging time for the Corporation and I want to reaffirm on behalf of the majority of the Board our support for and total confidence in the management team and CEO of Rogers Communications,” said MacDonald, in a release issued Thursday afternoon.
Edward Rogers moves out of the role of Chairman effective immediately, remaining on the Board as a Company director. Last month, he made a failed effort to oust Chief Executive Officer Joe Natale, which was blocked by a board majority, including two of his sisters and his mother, Loretta. It resulted in the departure of Chief Financial Officer Tony Staffieri, whom Rogers had hoped to move into the CEO role, and the subsequent formation of an “executive oversight committee” governing the Chair’s interactions with senior company staff.
Edward Rogers told Bloomberg News in an emailed statement this week that his motivations lie in improving RCI’s underperforming stock.
“Industry stalwarts, controlling and minority shareholders, employees, analysts and market observers agree: there is room for improvement,” Rogers wrote. “It is my responsibility to put the interests of RCI first. It’s disappointing the focus of others has strayed from what is best for the business.”
MacDonald has been a member of the Rogers Board of Directors since 2012 and holds the role of Lead Director and Chair of the Corporate Governance Committee.
An experienced senior executive who has worked at some of Canada’s largest technology organizations, MacDonald was President, Enterprise Division of MTS Allstream when he retired in December 2008. He previously served as President & CEO of AT&T Canada prior to the company’s rebrand as Allstream in 2003 and its subsequent acquisition by MTS. MacDonald also served as Bell Canada’s President and Chief Operating Officer and spent 18 years at NBTel, rising to the position of CEO.
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