Edward Rogers Retaliates Against Rogers Communications Board

Oct 22, 2021 By MarketDepth

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Edward Rogers of Rogers Communications Inc. has moved to oust five members of the Board of Directors. 

Loss of Confidence

Around midnight, Mr. Rogers announced that he no longer felt confident in the company’s current board. As chair of the Rogers Control Trust, Edward Rogers said in a statement that he was disappointed with recent events as well as the commentary regarding the governance of the company.

Changes in Leadership

Mr. Rogers was previously replaced as Chairman of the Board after reports emerged that he had tried to appoint Tony Staffieri, the former Chief Financial Officer, as CEO and replace other members of the leadership team. An email accompanying Mr. Rogers’ statement included endorsements for his strategy from Alan Horn and Phil Lind. 

New Chairman Announced

Earlier on Thursday, the company indicated that John A. MacDonald would take over as Chairman of the board, “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,” Mr. MacDonald said in the statement.