Rogers boardroom feud: CEO says he has board’s ‘unequivocal support’ – National

The chief govt of Rogers Communications Inc. says he has “robust unequivocal assist” from the board of administrators because the telecom firm’s boardroom feud emerged throughout a quarterly earnings name.

Joe Natale says he has the board’s full assist to proceed directing the technique of the corporate and driving its key operational initiatives.

The president and CEO says the corporate’s govt workforce stays centered on working the enterprise and driving efficiency in addition to touchdown the Shaw Communications Inc. transaction.

Rogers has been entangled in a high-profile board room wrestle in latest weeks, based on media experiences, within the midst of its deliberate $26-billion Shaw acquisition.

The Rogers board will launch a complete company governance evaluation “to determine clear protocols for interactions between the chair and members of administration.”

Rogers reported a third-quarter revenue on Thursday of $490 million, down from $512 million in the identical quarter final yr, as its income held regular.

The cable TV and wi-fi firm says the revenue amounted to 94 cents per diluted share for the quarter ended Sept. 30, down from $1.01 per diluted share a yr in the past.

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Income totalled $3.67 billion, equivalent to the identical quarter final yr, as greater service income in its wi-fi and cable companies have been offset by decrease media and wi-fi gear income.

On an adjusted foundation, Rogers says it earned $1.03 per diluted share, down from an adjusted revenue of $1.08 per diluted share a yr in the past.

Analysts on common had anticipated an adjusted revenue of $1.02 per share, based on monetary markets knowledge agency Refinitiv.

Rogers introduced a deal earlier this yr to purchase Shaw Communications Inc. in a transaction valued at about $26 billion, together with the idea of $6 billion of Shaw debt.