John MacDonald had been elected to replace Edward Rogers as chair of the telecom and media company last week
John MacDonald, who was elected to replace Edward Rogers as chair of the board of Rogers Communications Inc. last week, says he and other independent directors offered to step down several times in recent weeks over their concerns with Mr. Rogers’s conduct and his “disregard of good governance practices.”
The court will hold a hearing on Monday to consider a dispute over the control of the Toronto-based telecom giant. Mr. Rogers said his concerns about Mr. Natale stemmed from the company’s lagging performance relative to competitors, its “stagnated” share price and budget targets that had been missed in the past two years.
In the filing on Friday, Mr. MacDonald said that he does not agree with “many” of the statements in Mr. Rogers’s affidavit, and said that Mr. Rogers was “acting on his own initiative” in firing Mr. Natale and attempting to remove five members of the company’s board without holding a shareholder meeting. He also said that the attempt to oust Mr. Natale happened “without input from, or the approval or knowledge of, the board.
“The board, which oversaw the establishment of the Chief Executive Officer’s performance objectives and the assessment of his performance against those objectives, was of the view that Mr. Natale had met the requisite performance criteria and exceeded his goals,” Mr. MacDonald said.
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