(Reuters) – Rival factions vying for management of Rogers Communications Inc’s board will face off within the Supreme Courtroom of British Columbia on Monday looking for legitimacy for his or her respective sides.
Here’s a timeline of the important thing occasions main as much as the Canadian telecom and media firm’s court docket battle primarily based on varied affidavits submitted within the Supreme Courtroom of British Columbia and public statements.
Sept. 15 – Former Rogers Chairman Edward Rogers and lead impartial director John MacDonald converse on cellphone, the place Edward says he has misplaced confidence in CEO Joe Natale and sees former CFO Tony Staffieri as his alternative.
Sept. 18 – Natale tells MacDonald he (the CEO) inadvertently overhears a dialog through which Staffieri is discussing a secret plan plotted by Edward to shake up the corporate board and senior management. Quickly after that, Natale meets with the impartial administrators and asks for Staffieri to be eliminated. Staffieri quits the corporate on Sept. 29.
Sept. 19 – Edward meets Natale and is joined by MacDonald, and in that assembly Edward tells Natale that he has misplaced belief and desires to terminate the CEO.
Sept. 24 – Rogers board meets to debate the phrases of Natale’s removing however a choice to seek out his successor is deferred. Following that, the impartial administrators led by MacDonald converse to Natale and procure his consent to remain on as CEO.
Sept. 26 – Rogers board meets once more to debate a decision together with to retain Natale, and to terminate Staffieri.
Sept. 29 – One other board assembly takes place, which isn’t attended by Edward, the place the decision to withdraw Natale’s resignation is accepted, and the choice to terminate Staffieri is made. Staffieri resigns the identical day.
Oct. 21 – Rogers board meets to contemplate quarterly earnings. The board publicizes that Edward is stepping down as chair, and lead impartial director MacDonald is known as the brand new chair. Edward makes use of his place as chair of the family-owned Rogers Management Belief, which owns the vast majority of voting shares within the firm, to represent a brand new board, which acknowledges him as chairman.
Oct. 22 – Rogers Communication points assertion and calls Edward’s determination to represent a board invalid.
Oct. 23 – Edward holds an preliminary assembly of the rival board and says he would petition the Supreme Courtroom of British Columbia to validate the brand new board.
Oct. 26 – Edward information petition in B.C. court docket and in his affidavit claims that his mom, fellow board director Loretta Rogers, had supported firing Natale and had made a speech to the board asserting so in late September. Loretta Rogers disputes this, saying that Edward Rogers and board director Alan Horn had given her inaccurate details about Natale’s efficiency as CEO.
(Compiled by Denny Thomas; Enhancing by Matthew Lewis)
