Rogers reportedly ousts Edward Rogers as chairman after play for 5 board seats
BNN Bloomberg
The board of Rogers Communications Inc. has removed Edward Rogers as chairman, according to people familiar with the matter.
The board of Rogers Communications Inc. has removed Edward Rogers as chairman, according to people familiar with the matter.
The move came Thursday afternoon after he began working to replace five current directors with his own nominees in an ongoing power struggle at the Canadian cable and wireless firm, the people said.
Former telecom executive and Rogers director John MacDonald will become the new chairman, said the people, requesting anonymity because the matter is still private.
Edward Rogers, the 52-year-old son of late founder Ted Rogers, sought last month to replace Chief Executive Officer Joe Natale. But he lost the fight when the proposal was rejected by a majority of the board, including two of his sisters and his mother.
This week, he began making plans to replace five current directors with a slate of his own choices in a bid to regain control -- a move that triggered Thursday’s action by the board to remove him.
