Rogers Communications says it rejected an attempt by former chair Edward Rogers to name a slate of new directors because the move “does not comply with laws of British Columbia,” where the company is incorporated.
“The proposal by Mr. Edward Rogers to hold a purported Board meeting with his proposed slate of directors this weekend does not comply with laws of British Columbia, where Rogers Communications Inc. is incorporated, and is therefore not valid,” the company said in a statement on Saturday.
“Accordingly, the purported Board meeting and anything that may arise from such a meeting is also invalid.”
The company did not offer details on what laws the move would contravene.
Saturday’s statement is the latest development in an ugly fight for control of the company.
Edward Rogers was ousted as chair of the company his father founded on Thursday after a failed bid of his own to wrest control of the company.
He then pitched a plan to replace five members of the company’s board with new people of his choosing, saying in a statement that he “believes that it would be in the best interests of RCI to reconstitute the board.”
On Friday evening, the company responded to that move by making it clear that it has no plans to do that.
While out as chair, Edward Rogers remains on the company’s board. And his move to replace other members of the board suggests he’s still seeking change at the top.
“It is disappointing that the former Chairman is attempting to act unilaterally without regard for the interests of the company and all of Rogers’ shareholders,” the company said Saturday.
In September, Edward Rogers tried to get rid of CEO Joe Natale and put the company’s chief financial officer, Tony Staffieri, into the top job.
An emergency board meeting was called, at which three members of the Rogers family — sisters Melinda and Martha, along with their mother, Loretta — banded together to stop Edward Rogers’s plan.
Natale reportedly heard of the plan to oust him when Staffieri accidentally pocket-dialled him while discussing the plan with one of the company’s former executives, the Globe and Mail reported Thursday.