“As of Friday night, it was unclear who exactly is on the board of directors at Rogers…” Toronto Star, October 23, 2021.
[ms_dropcap color=”#000000″ boxed=”” boxed_radius=”8″ class=”” id=””]W[/ms_dropcap]hat an indictment of one of Canada’s most valued public companies and a giant in the country’s telecom industry. It’s a further indictment of a shareholder system in Canada that permits two classes of voting shares, which puts some investors, usually family members, in control of the whole show, leaving everyone else in supporting roles. Independent directors at Rogers cannot allow chaos and uncertainty to be the governance model. They need to quickly assert themselves to ensure stability — or resign. It is also time for some wise people to begin to think about how it was ever allowed to come to this, and what needs to be done in Corporate Canada to prevent similar boardroom disasters.