Edward Rogers claims he had the support of the board in firing Joe Natale as CEO of Rogers Communications Inc., including accepting his mother and sister, Martha Rogers.
He said he, family, and board directors have discussed concerns about Natale’s leadership since the company reached an agreement to acquire Shaw Communications Inc. and that the board voted Sept. 24 to fire the CEO and sign a severance agreement with him.
But they still didn’t have a compensation package aligned with Tony Staffieri, the CFO Edward wanted to put in charge.
The board deferred a resolution naming Staffieri CEO and two days later, the winds had turned and the board withdrew its support for Edward’s plan, eventually firing Staffieri.
These new revelations were contained in a court docket on Tuesday relating to Edward Rogers’ fight to regain control of the Rogers communications board.
He was removed as chairman of the board last week, but said he was re-elected on Sunday to a board made up of different members.
Rogers struck a landmark deal in March to acquire Shaw Communications Inc. for $ 20 billion.
The court filing stated that “members of the Rogers family and the directors of Rogers Communications discussed concerns they had regarding Mr. Natale’s leadership, the impending integration of Shaw, and his ability to manage the combined company.”
More to come
Reference-www.thestar.com