Effective from May 8, Telus’ Darren Entwistle will step down as CEO, after running the company for 14 years. Since he took over the company in 2000, Telus has grown to become Canada’s No. 2 wireless player, and the company is now valued at $4.3 billion.
Entwistle will be appointed Executive Chair of the incumbent’s board of directors. His vacant position will be taken by Joe Natale, who joined Telus three years after Entwistle, and more lately has been the company’s Chief Commercial Officer.
I am very pleased that our best in class succession planning process has resulted in Joe Natale being named as our next President and CEO and am excited to continue working with him in leading the progression of our national growth strategy. Joe is an exceptionally proven and highly capable leader. Clearly, Joe’s excellent progression through several executive roles, culminating in his most recent capacity as our Chief Commercial Officer, has prepared him exceedingly well for this next step in his career. I look forward to continuing to work closely with Joe and the TELUS Board, including Dick Auchinleck as our Lead Director, as we strive to continuously create leading value for our investors, customers, team members and communities, Entwistle said in a press release.
The executive moves will take place on May 8 during Telus’ Annual General Meeting.