News
Ex-Telus CEO Joe Natale hired after former Vodafone UK chief makes abrupt departure.
Rogers has announced the sudden departure of CEO Guy Laurence, and has lined up former Telus chief executive Joe Natale as his replacement.
Laurence’s resignation is effective immediately; no official reason was given, but a source cited in a BNN report said it was due to the soured relationship between the former Vodafone exec and the Rogers family, who still control the Canadian telco.
In particular, Laurence’s treatment of Edward and Melinda Rogers – two of four family members who sit on the board – was considered disrespectful, the source claimed.
Laurence joined Rogers as CEO in September 2013 from Vodafone, where he served as CEO of the U.K. business.
"We have appreciated Guy’s leadership over the last three years," said Rogers’ deputy chairman Edward Rogers, in a statement on Monday.
"He has moved the company forward re-establishing growth, introducing innovative programmes like ‘Roam Like Home’, while getting the company ready for its next phase of growth," he said.
Indeed, the announcement was made the same day that Rogers published healthy third quarter financials.
Revenue increased to C$3.49 billion (€2.43 billion) from C$3.38 billion a year earlier, driven by growth at Rogers’ wireless and media divisions. Adjusted operating profit edged up to C$1.39 billion from C$1.35 billion. Rogers ended September with 10.14 million mobile subscriptions, up from 9.82 million at the end of September 2015.
The telco’s new chief executive will be Joe Natale, whose last job as CEO of rival operator Telus ended as abruptly as Laurence’s tenure at Rogers.
Natale replaced Darren Entwistle as Telus CEO in March 2014, but left again in August 2015 on grounds that he was reluctant to relocate from Toronto to Vancouver. The official explanation did nothing to prevent speculation about the ‘real reason’ for Natale’s sudden departure.
With Rogers headquartered in Toronto, there should be no such conflict of interest for Natale this time.
"Joe is a proven executive who has deep experience delivering strong financial results in a highly competitive and complex industry. His focus on the customer experience and demonstrated expertise delivering operational success makes him well suited to lead Rogers through the challenges and opportunities ahead," said Rogers chairman Alan Horn.
Horn will serve as interim president and CEO until Natale is in a position to join the company. According to BNN, the non-compete clause of Natale’s Telus contract has yet to expire.
"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."
