The telecommunications giant finds itself with two groups claiming to be in control. One side is led by recently ousted board chair Edward Rogers, who says he was re-elected chair on Sunday by a new, hand-picked board. Opposing him are his mother, siblings and several other board members who say the meeting was illegitimate and that the five members who were replaced by Edward Rogers remain on the board.
Caught in the middle will be Rogers CEO Joe Natale, who became the epicentre of the drama when recent media reports revealed Edward Rogers was trying to remove him from his position. Edward's odds of removing Natale are high because he remains chair of the Rogers Control Trust, the controlling shareholder, which, along with Rogers family members, owns 97 per cent of Class A voting shares.
"The longer this drags out, it puts that deal at risk, particularly if the stock price starts to drop," Powers said.
It just shows that they have no respect for their customer's time to move on