Rogers announced today Edward Rogers has been removed as the Chairman of the Board of Directors of Rogers Communications Inc.
The son of late company founder Ted Rogers has been replaced by John A. MacDonald, a member of the Rogers Board of Directors since 2012. He is also the current Lead Director and Chair of the Corporate Governance Committee.
“This has been a challenging time for the Corporation and I want to reaffirm on behalf of the majority of the Board our support for and total confidence in the management team and CEO of Rogers Communications,” said John A. MacDonald, in a statement.
News of the Rogers corporate turmoil comes as it was previously reported Edward Rogers tried to oust current CEO Joe Natale and a majority of current executives.
According to The Globe and Mail, Natale reportedly learned of the plan to remove him through an accidental ‘butt dial’ from since departed CFO, Tony Staffieri.
The plan to remove Natale was opposed by Edward Rogers’ own sisters and mother. Edward has recently criticized the company’s current leadership, saying the company should be doing better.
Rogers announced its Q3 earnings today earning $490 million in net income from $3.67 billion in total revenue. The company added 175,000 net wireless postpaid subscribers, its best result in 13 years, thanks to the relaxing of COVID-19 restrictions.
The company is trying to close its $26 billion acquisition of Shaw, which is currently being reviewed by Canadian regulators.
“As we come together with Shaw, we will build on this foundation to bring next-generation connectivity to communities across Western Canada, helping to create jobs, attract investment, and increase economic growth,” said Natale earlier on Thursday in a statement.