Rogers rejects potential meeting between ousted chair and his preferred board appointees – National

The bruising battle for management of Rogers Communications Inc. continued on Saturday, with the corporate claiming its just lately ousted chairman intends to carry a weekend assembly with a slate of hand-picked board administrators and pre-emptively rejecting the end result of any such gathering.

The corporate issued a press release saying any assembly between Edward Rogers and the 5 individuals he tapped to affix the corporate’s board is each unlawful and invalid.

It’s the newest salvo in an ongoing feud on the telecom large, which discovered itself embroiled in turmoil this week amid media experiences that Edward Rogers tried to switch the corporate’s present chief govt officer amongst different adjustments to company management.

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“The proposal by Mr. Edward Rogers to carry a purported board assembly along with his proposed slate of administrators this weekend doesn’t adjust to legal guidelines of British Columbia, the place Rogers Communications Inc. is integrated, and is due to this fact not legitimate,” newly minted board chairman John MacDonald stated in a press release.

“Accordingly, the purported board assembly and something which will come up from such a gathering can also be invalid. It’s disappointing that the previous chairman is trying to behave unilaterally with out regard for the pursuits of the corporate and all of Rogers’ shareholders.”

Edward Rogers insisted his board was legit in an emailed assertion.

“The brand new board and the corporate have vital enterprise to take care of and we won’t interact in debates within the media with former administrators,” he wrote.

“A gathering of the board will proceed as deliberate.”

Rogers assertion provided no particulars as to when the assembly would happen or who could be in attendance.

Edward Rogers, who was eliminated as board chair on Thursday however has retained his board seat, is looking for to claim management over the largely family-run firm. The son of firm founder Ted Rogers additionally stays as chair of the Rogers Management Belief, the controlling shareholder, which, together with Rogers members of the family, owns 97 per cent of Class A voting shares.

Joe Natale, CEO of Rogers, additionally sought to ease the minds of shareholders on Saturday.

“I, along with my administration workforce at Rogers, share a deep and resolute dedication to all our shareholders and maintain the belief they place in us as paramount,” Natale stated in a press release.

“We proceed to work exhausting day-after-day to serve the wants of 15 million Canadians, help our hard-working groups throughout the nation and create worth for all our shareholders.”

The company sparring started after Edward Rogers unsuccessfully tried to oust present CEO Joe Natale, appoint former chief monetary officer Tony Staffieri to the position as an alternative and change different members of the management workforce, based on media experiences.

A number of experiences say the plan to switch Natale was blocked by different board members, together with Edward Rogers’ sisters and mom, and his try at shaking up the agency led to him being changed as chairman.

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However Edward Rogers wouldn’t hand over. In a information launch late Thursday, he introduced his plan to take away unbiased administrators John Clappison, David Peterson, Bonnie Brooks, Ellis Jacob and MacDonald from the corporate’s board.

Of their place, he named Michael Cooper, Jack Cockwell, Jan Innes, Ivan Fecan and John Kerr as the brand new administrators.

Hours later, the corporate fired again with a press release rejecting Edward Rogers’ proposed candidates and asserting the board make-up would stay intact. MacDonald stated the declaration was made after looking for authorized recommendation.

Natale provided public touch upon Saturday for the primary time for the reason that saga started, issuing a press release reaffirming his dedication to each firm shareholders and a proposed takeover of rival Shaw Communications Inc. Natale is extensively seen because the architect of the $26 billion deal, which remains to be awaiting regulatory approval.

“We stay absolutely targeted on efficiently coming along with Shaw to ship the subsequent part of Rogers’ strategic progress and higher serve Canadians in communities from coast to coast,” Natale stated within the assertion.

Edward Rogers stated in his Saturday assertion that securing approval for the Shaw deal could be one of many key areas of focus at his deliberate assembly.

Considered one of Edward Rogers’ sisters additionally weighed in through Twitter, making clear her opposition to her brother’s strikes.

“Not like Ed I’ve no attorneys, PR spin corporations, employees or media coaching. Don’t want it,” Martha Rogers wrote. “I’m nobody particular, only a pretty peculiar girl put in extraordinary circumstances. Ted put me on the board as a verify and steadiness to make sure nothing this insane happens. That is for you Dad.”