Rogers is a corporate governance anomaly because the family controls more than 97 per cent of the votes
Without such provisions, there are “no effective checks and balances on these companies and although such niceties are sometimes installed … these can just as easily be swept away,” Behan said.
“He has little respect for the non-voting shareholders and for the ‘independent’ directors. The ‘new’ directors have agreed to work under someone who has demonstrated is in charge. You just have to see how he has treated the ‘old’ directors.” In a fitting twist to the family and corporate drama over independence and who is in control at Rogers, Emerson, the former director and chair ushered out by Ted Rogers a decade and a half ago, has re-entered the picture. Emerson swore an affidavit last week to offer what he called his “expert independent opinion” to the B.C. judge on matters of corporate governance at Rogers.
In affidavits filed in advance of this week’s court hearing in B.C., Edward Rogers and John MacDonald, the lead director who replaced Edward as chair after he was ousted from that position, described the events that gave rise to the court hearing.
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