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Rogers board agrees to drop CEO Natale, says Edward Rogers
2021-10-28 00:00:00.0     星报-商业     原网页

       

       NEW YORK: The board of Rogers Communications Inc voted 10-to-one to let go of chief executive officer Joe Natale and even drafted a press release announcing the decision, but reversed course at a Sept 26 board meeting, according to court documents filed by Edward Rogers.

       Edward’s mother, Loretta Rogers, spoke in favour of the change, according to an affidavit he filed Tuesday as part of his effort to wrest control of the company, as did his sister, Martha Rogers, the documents state.

       Edward is seeking to have a British Columbia court rule that he has the power to appoint the directors he wants unilaterally.

       But Loretta said in an emailed statement that her son’s version of events is “unfortunate” and “untrue” and that she supports Natale as the man to lead the company through its proposed US$16bil (RM66bil) takeover of rival Shaw Communications Inc.

       John MacDonald, the man who replaced Edward as chairman of the company last week, said: “At no time did the majority of the board vote to remove Joe Natale as CEO of Rogers Communications. There are several critical and material items that are categorically false” in Edward’s affidavit, he said. The documents shed new light on the fractures within the Rogers clan and the sequence of events that have triggered the bitter struggle for control at Canada’s largest wireless company.

       The situation has become so bizarre that two men now claim to be chairman: Edward and MacDonald.

       The court will be asked to resolve the dispute.

       Edward Rogers’ court case is the latest chess move in an ongoing power struggle that has pitted him against his mother and sisters Melinda Rogers-Hixon and Martha Rogers.

       The family has been publicly sparring for weeks.

       Edward said in an affidavit he has been concerned about the company’s performance under Natale for the past two years. He initially raised concerns in September 2019 at a meeting of the family trust, and the matter was discussed three times since.

       Natale’s departure was to be announced as a retirement, with chief financial officer Tony Staffieri promoted to CEO in early October.

       Instead, the board reversed the decision and fired Staffieri, who left on Sept 29.

       “This is a business issue. The focus should not be on our family,” Edward said in an emailed statement late Tuesday.

       “My objective remains to resolve this matter as quickly as possible.”

       Shares of Shaw have fallen well below the takeover price of C$40.50 (RM135.56) per share as investors worry the transaction could be delayed or fall apart altogether – though Shaw has said it remains committed to closing the sale. — Bloomberg

       


标签:综合
关键词: affidavit     Staffieri     Rogers Communications Inc     Edward Rogers     Loretta Rogers     court documents     Natale     board    
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