Edward Rogers replaced as Rogers Communications chair amid executive power struggle
Global News
In a statement Thursday afternoon, the company said John A. MacDonald will take over as chairman of the Rogers board of directors.
Edward Rogers is out as board chair of Rogers Communications Inc., a move that comes as the latest development in a boardroom drama that has prompted the departure of a senior executive and the launch of an executive oversight committee.
In a statement Thursday afternoon, the company said John A. MacDonald will take over as chairman of the Rogers board of directors.
“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 the statement.
Edward Rogers, who has served on the Rogers board since 2012, will remain on the board as a company director, the statement said.
Rogers Communications has been embroiled in an executive power struggle which developed after Edward Rogers tried to put former chief financial officer Tony Staffieri into the role of CEO and replace other members of the leadership team, according to media reports. Staffieri left the company effective Sept. 29, with Paulina Molnar named interim CFO.
Thursday, the board announced it has formed an executive oversight committee “to establish clear protocols for interactions between the chair and members of management” and said it would undertake a comprehensive corporate governance review.
“The board believes that these initiatives will further strengthen the company’s corporate governance practices,” it says in the management discussion and analysis document released along with the company’s third-quarter financial results.
Joe Natale, president and chief executive of Rogers, publicly addressed the feud for the first time during the telecom company’s quarterly earnings call Thursday morning.
