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Rogers Communications Inc president Edward Rogers said Tuesday there was “room for improvement” in the company’s long-term performance following a report that he held discussions with potential candidates to replace board members.
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The Canadian telecommunications company is awaiting regulatory approval for its $ 20 billion acquisition of its smaller rival, Shaw Communications Inc.
“In my role as president of Rogers Control Trust, the controlling shareholder of the company, it is my responsibility to put the interests of RCI (the company) first,” Rogers said in a statement.
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“It is disappointing that the focus of others has deviated from what is best for the business.”
The company, however, did not respond to a request for comment on a Globe and Mail report in a plan of changes in the board.
President Rogers had recently made a failed attempt to replace Chief Executive Officer Joe Natale, the newspaper reported earlier this month, a move strongly opposed by his sister and vice president, Melinda Rogers-Hixon.
The company said on September 29 that Staffieri had resigned from his position as CFO, without citing a reason.
“The awkward and abrupt departure of CFO Tony Staffieri on September 29 appears to reflect disagreements within the Rogers family regarding the company’s senior leadership,” brokerage BMO Capital Markets said and lowered the target price of the stock on October 12 °.
The company is expected to report third quarter results on October 21.
Reference-torontosun.com