Empire that Ted built
Rogers stock was down early Friday as the world awaits the outcome of a legal battle over who controls the giant telecommunications firm. Late Thursday the Rogers board removed Edward Rogers as chairman. But now Mr. Rogers, as head of the Rogers family trust, says he will replace five members of the board with others who have a more sympathetic view of his plans. Rogers has been maneuvering to replace CEO Joe Natale. And there is more. The present management is casting doubt on the legality of a wholesale firing of directors. It says it “is not aware of this mechanism ever having been utilized in respect of a public company in Canada.” Counsel will be consulted. CBC
