Toronto-based telecommunications giant Rogers announced today that its president and chief executive officer will retire in January 2014, less than one year away.
Nadir Mohamed joined Canada’s largest telco in August 2000, becoming president and CEO of Rogers Wireless in 2011 and then COO of Rogers Communications Group in 2005, before finally becoming CEO in 2009 after succeeding the late company founder Ted Rogers.
“Nadir is a highly regarded executive who has delivered strong results and substantial value for more than a decade,” said Alan Horn chairman of the board for Rogers in a statement. “Thanks to his disciplined and strategic management approach we’ve strengthened our core business, solidified our financial position and set Rogers up for long-term success. The board is grateful for his significant contributions and looks forward to working with him to ensure a seamless and orderly transition.”
“It’s truly a privilege to work with the Rogers family, the board, the leadership team and our employees to deliver for customers and shareholders and to set the foundation for the future,” said Mohamed. “The Company has a seasoned executive team, the best asset mix in North America, the most advanced networks and the best platform to lead and drive the next wave of growth. The company’s in great shape and it’s time to start the transition to the next generation of leadership.”
“Nadir skillfully led the company during an extraordinary time of change in our history and the history of our industry,” affirmed Edward Rogers, Deputy Chairman and Chair of the Rogers Control Trust. “On behalf of the company I thank Nadir for his ongoing leadership and for strengthening the company both operationally and financially.”
Since becoming CEO in March 2009, when Mohamed became CEO, the company has delivered a total shareholder return of 81%. However, the company has fallen well short of delivering similar value to its 9.4 million disgruntled customers.
Photo: Aaron Elkaim/The Canadian Press