This morning Rogers announced its president and CEO for nearly three years, Guy Laurence, has stepped down, “effected immediately”. The company says it plans to hire former Telus CEO Joseph Natale as his replacement. In the meantime, Alan Horn will take over leadership duties until Natale comes on board.
“We have appreciated Guy’s leadership over the last three years,” said Edward Rogers, Deputy Chairman, Rogers Communications Inc. “He has moved the company forward re-establishing growth, introducing innovative programs like Roam Like Home, while getting the company ready for its next phase of growth. On behalf of the Rogers family and the Board, I’d like to thank Guy for his competitive spirit and many contributions.”
Rogers did not give an explanation for sudden leadership change.
Only a month ago Laurence, who moved to Canada from the UK for the job, was boasting of just how well he has been getting on here. pic.twitter.com/kzMA4xDob2
— Sean Craig (@sdbcraig) October 17, 2016
Natale stepped down from his position as CEO with Telus last year, reportedly over his unwillingness to relocate his family to Vancouver for the job. Due to a non-compete clause, he is not allowed to join a competitor for at least 18 months, since the end of his contract (via the Financial Post). Natale should be expected to join Rogers in early 2017.
“During the transition, it’s business as usual,” said Horn. “We have a strong management team that will continue to execute the plan and build on the momentum we have established as we head into the fourth quarter.”
Laurence, a former Vodafone executive from the UK, was announced as the Rogers replacement for retiring CEO Nadir Mohamed back in the fall of 2013; the British executive started his new role in December of that year.
The announcement was made just prior to Rogers releasing its third quarter financial report, which saw profit drop 50 per cent compared to the year ago quarter, despite a revenue increase.