Joe Natale is no longer the president and CEO of Rogers, according to a statement from the company.
Tony Staffieri — Edward Rogers’ preferred executive — will take over as the telecom giant’s interim president and CEO. This shift comes amid a power struggle within the Rogers that resulted in a judge allowing Edward Rogers, the chair of the Rogers’ family trust, to replace five director’s on the company’s board.
“On behalf of the Rogers family, the Board and our 24,000 team members across the country, I thank Joe for his leadership and contributions to our company, including paving the way for our future together with Shaw,” said Edward Rogers, in a press statement.
“While Joe is moving on, we have an experienced interim CEO and leadership team who will continue to focus on the business, return to stability, and closing our transformational merger with Shaw.”
Natale’s departure comes after Edward Rogers put his weight behind Staffieri in an attempt to oust Natale. Although the attempt failed (thanks to a butt dial that revealed the scheme to Natale), it was the catalyst for weeks of Rogers family drama between Edward, his mother and his sisters. You can read a full timeline of the drama here, which ended recently when a B.C. judge ruled that Edward Rogers did have the power to change the company board through written resolution. Further, The Globe and Mail previously reported that Natale and his executive team were prepared to leave the company if Edward Rogers won in court.
The press release goes on to state that Staffieri has “over thirty years of telecom, financial, media and sports experience, including nine as the chief financial officer of Rogers.”
However, it seems Staffieri’s appointment is truly temporary, as the release also says that Rogers is looking for a permanent CEO that will “continue to drive our future growth.”
Rogers says that it still plans to acquire Shaw this spring in a $26 billion deal that’s still awaiting approval from the Canadian government.
Update 11/17/2021 at 9:07am ET: Added additional context about the Rogers family drama the led up to Natale’s departure.