Wednesday, April 17, 2024

family conflict | Edward Rogers wants to replace five directors

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Maria Gill
Maria Gill
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(Toronto) Edward Rogers, chairman of the family fund that controls Rogers Communications, called for the removal of five board members Friday, fueling an escalation of disagreement within the board, which saw Rogers replaced Thursday night as Rogers’ chairman. Telecom giant.

As Chairman of the Rogers Control Trust, Edward Rogers said in a statement that he is disappointed by recent events and comments about the company’s management, and that he has lost confidence in the Rogers Board of Directors as it is now formed.

He is excluded from the presidency of the board of directors

Edward Rogers was replaced as Rogers’ chairman Thursday, after media reported that he had unsuccessfully tried to appoint former chief financial officer Tony Staveri as CEO and replace other members of the management team.

His plan to replace Rogers CEO Joe Natalie has reportedly been blocked by other board members, including Mr. Rogers’ sisters and his mother, according to multiple reports.

Edward Rogers is now calling for the departure of John Clapison, David Peterson, Bonnie Brooks, Ellis Jacob, and John MacDonald. The latter was appointed Thursday evening as chairman of the company’s board of directors, succeeding Mr. Rogers.

Edward Rogers would like to see Michael Cooper, Jack Cockwell, Jean Innes, Evan Vikan and John Kerr as new directors.

Rogers Communications Concern

In response, the telecommunications group said in a statement that it was concerned that the fund was seeking to effect fundamental change in this unusual way.

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He added that he had not yet received any papers from Edward Rogers or the trust regarding changes to the board and would consult with his attorney if this occurred.

Edward Rogers heads the Rogers Control Fund, which controls Rogers through Class A voting shares, while the fund also includes other family members and an advisory committee.

The head of the control fund acts as a representative of the controlling shareholder and votes for the Class A voting shares.

Vice President Melinda Rogers Hickson assists the President and reports to the Advisory Board.

The company in this story: (TSX: RCI. B)

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