Rogers welcomes opportunity for tribunal to consider importance of holding meeting to change board
(RTTNews) – Rogers Communications Inc. (RCI.TO, RCI) has announced that the British Columbia Supreme Court will hold a hearing on November 1, 2021 to hear representations from the company and the Rogers Control Trust regarding the legality Edward Rogers’ attempt last week to replace five of the company’s independent directors with nominees from Rogers Control Trust in a written resolution, without calling a meeting of shareholders.
The company said it welcomes the opportunity for the court to consider the importance for shareholders and all stakeholders of holding a shareholders meeting to change the board of directors.
Edward Rogers was named president of Rogers Communications in a meeting Sunday night, according to a statement from a group that said he represented the company’s “reconstituted board of directors”.
Edward Rogers then said he intended to initiate proceedings in the British Columbia Supreme Court to uphold and implement the shareholders’ resolution.
However, Rogers Communications said the meeting was invalid, the composition of the board had not changed at all, and John MacDonald remained chairman.
The board of directors of Rogers Communications dismissed its chairman Edward Rogers last Thursday, after trying to replace CEO Joe Natale with another executive. The company has appointed John MacDonald as president. MacDonald had been a member of the Rogers Board of Directors since 2012 and served as the Lead Director and Chairman of the Corporate Governance Committee.
Edward Rogers’ mother and sisters, who are members of the company’s board of directors, said on Sunday that they support Joe Natale as CEO and support his management team. They remain as duly elected members of the board of directors of Rogers Communications and represent the majority of the members of the board of directors of the company. No other group of people has the authority to claim to act as a board of directors of Rogers Communications Inc.
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