A B.C. judge will rule today on how much control Edward Rogers has over the corporate board
Regardless of Friday’s outcome in court, the very public battle has brought close scrutiny of the mechanism through which the Rogers family controls the $30 billion telecommunications giant and laid bare a truth that some have noted for years: Rogers is a corporate governance anomaly because the family controls more than 97 per cent of the votes.
But at Rogers, where the founder’s family continues to hold 97.5 per cent of the company’s class A voting stock through the family’s Rogers Control Trust, it has not been usual over the years to find raised eyebrows in corporate governance circles.Article content “When you’ve got someone that controls all or most of the votes … the company is basically their private fiefdom,” Behan noted.
“Clearly, the head of the family trust wants to run Rogers like a private corporation and he does,” Lamoureux said. At a hearing Monday in the Supreme Court of British Columbia, legal representatives for Edward Rogers urged Justice Shelley Fitzpatrick, who is overseeing the case, to ignore Emerson’s input. Edward Rogers objected to Emerson’s assertion that he was independent, they said, given the documented history with the company and the trust.Article content
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