Experts said on Wednesday that the departure of Rogers Communications chief executive Joe Natale raised further questions about the direction of the company, which seeks to end a power struggle on the board of directors. administration and focus on acquiring rival Shaw Communications.
In a statement released late Tuesday night, the telecommunications giant announced that Mr. Natale was no longer CEO and was being replaced on an interim basis by former CFO Tony Staffieri. The board has begun research to find a permanent CEO to guide its acquisition of Shaw, a deal valued at $ 26 billion.
Tyler Chamberlin, assistant professor at the Telfer School of Management at the University of Ottawa, said that while the family feud over President Edward Rogers’ attempt to replace Mr. Natale with Mr. Staffieri appeared to be settled, uncertainty at the top could have repercussions for the company.
But the departure of Mr. Natale could also lead to a new strategic vision for Rogers, which has just gone through, according to the analyst, a period of “underperformance” during the tenure of the outgoing boss.
RBC Dominion Securities analyst Drew McReynolds said he expects more changes at the senior management level, but does not believe these changes will affect the regulatory approval process of the company. ‘deal with Shaw.
Three federal agencies are reviewing the potential acquisition. The Canadian Radio-television and Telecommunications Commission (CRTC) is scheduled to hold a public hearing on the matter on November 22.