We will stand behind each and every commitment made by our team today. Melinda Rogers-Hixon, deputy chair of Rogers Communications Inc., at her home in Toronto. Lawyers representing the company, along with several Rogers family members including Loretta Rogers - Edwards mother and widow of the late Ted Rogers - insist the only way to remove a director from the corporate board is through a shareholder meeting. Ms. Rogers-Hixon has held progressively senior roles at Rogers since joining the company in 2000. RBC analyst Drew McReynolds cut his rating on the companys TSX-listed stock to the equivalent of a hold from a buy Monday and lowered his price target, noting collateral damage now seems inevitable., Soliman said the share-price decline was contributing to a sad day, adding this type of chaos is obviously unhelpful., The stock symbol {{StockChart.Ric}} does not exist, Brendan Caldwell's Top Picks: March 1, 2023, {{data.symbol | reutersRICLabelFormat:group.RICS}}, {{ stock | formatPrefix }}{{ stock.netChng | formatNetChange }}, Two men claim Rogers chairmanship as rift convulses family, 'Collateral damage': Rogers chaos prompts analyst downgrades. Oh my god, hes worth his weight in gold, Rogers-Hixon said. The familys strained relationship has been in the public eye for months when her brother, Edward Rogers, attempted to oust former CEO Joe Natale, without bringing the matter to the board. Theres a new head of the cable division, Robert Depatie, until recently a director who aligned himself with Edward Rogers in the boardroom battle. She also served as Senior Vice President, Strategy and Development from 2006 to 2014, Vice President, Strategic Planning & Venture Investments from 2004 to 2006, and Vice President, Venture Investments from 2000 to 2004. Melinda Rogers-Hixon wants peace within her family and inside the boardroom of Canadas largest wireless and cable company. The more unstable we are, the harder it is for us to execute and the easier it is for them to outperform us.. Major company holdings: Rogers Communications. All rights reserved. Sign-up for MobileSyrup news sent straight to your inbox. In her first interview since the Rogers board debacle earlier this year, Melinda Rogers-Hixon says rebuilding broken family relationships is of the utmost importance. Wireless head Dave Fuller is a Natale protege who has already stated publicly that he doesnt want to work for another CEO. The companys shares are on track for a third consecutive year of declines -- that hasnt happened since the 1990s -- and trade at a big discount to its major rivals, partly because of the turmoil and a perception of poor governance. Aspects specifically relating to broadcasting were discussed. Terms of use. Melinda Rogers-Hixon Deputy Chair & Director of the Board, Rogers Communications, Partner GTA Toronto . Article content. Rogers-Hixon, her sister, Martha Rogers, and her mother, Loretta Rogers all board members had wanted to stick with Joe Natale, the CEO since 2017. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. Ms. Rogers-Hixon was appointed a director of Rogers Bank on December 31, 2017. Melinda M. Rogers-Hixon founded Rogers Venture Partners LLC. He was actually quite principled, and I think hed kick our ass, frankly, she said. Its an obligation, a responsibility -- not only as a board member and a shareholder, but as a member of the family. corporate law allows him, as chair of the family trust that holds 97.5 per cent of voting shares in the company, to replace directors at his discretion. Wait, so now you have a fifth, whos changing the strategy again, Rogers-Hixon said. When asked her opinion about Staffieri and whether shed support making him the permanent boss, Rogers-Hixon rattled off the list of what she wants in a CEO. 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The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. Public asset : 54,348,805 USD. Musk Made a Mess at Twitter. Perched on a sofa inside her home in one of Torontos most upscale neighborhoods, the heiress of the Rogers Communications Inc. empire is working hard to project an air of calm diplomacy. connected my love of Kyoto with a grand, emotional samurai story, Made in Canada Project Arrow EV concept rolls out on tour, Game designer on intersectionality and increasing Black representation in gaming, New EV Test Track re-energizes the Canadian International Auto Show, Heres whats next in the Rogers and Shaw saga, Canadian carriers end the year with plans a little pricier than before, CRTC chair Ian Scott isnt leaving a legacy behind. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. This is their biggest dream. Ted Rogers, she said, would be appalled by recent developments. She told The Globe and Mail that rebuilding relationships isnt only important for the family, but for the future of Rogers and its employees. Hixon family $1.25B 2015 America's Richest Families Net Worth as of 7/1/15 About Hixon family After the Civil War, Gideon Cooley Hixon, a Wisconsin businessman and politician, made a. Please try again. Avatar: The Way of Water uses crazy tech, but does it look better or worse? Edward wanted Tony Staffieri, the longtime chief financial officer. The Posthaste newsletter has all the breaking business news and market signals you need, The Posthaste newsletter the business news you need, Melinda Rogers wants peace with her brother Edward, but deep rifts remain, Death of the balcony: Why an outdoor space of one's own may soon be a luxury in condoland, The CRA generally lets you claim family medical expenses not this time, Nordstrom joins the exodus of U.S. retailers from Canada: What you need to know, We are very clearly in an energy supply crisis Eric Nuttall sees return of triple-digit oil prices, 'Panic station at Fox News': How the Murdochs agonized over Trump's election loss. Rogers is a corporate governance anomaly because the family controls more than 97 per cent of the votes, 365 Bloor Street East, Toronto, Ontario, M4W 3L4. She joined forces with other board members last month . And yet, there were moments in the interview that revealed the magnitude of the fissures inside the Rogers clan, and how tricky repairing them will be, as the company enters a critical phase in its US$16 billion takeover of rival Shaw Communications Inc. Rogers-Hixon cited C-suite turnover under her brothers leadership and the constant strategy shifts; she made clear she still has issues with his choice of CEO; and she hinted at discontent in the top ranks. Perched on a sofa inside her home in one of Torontos most upscale neighbourhoods, the heiress of the Rogers Communications Inc. empire is working hard to project an air of calm diplomacy. 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See the complete profile on LinkedIn and discover Melinda's connections and jobs at similar companies. Ms. Rogers-Hixon was appointed a director of Rogers Bank on December 31, 2017. It has grown to become a leading technology and media company that strives to provide the very best in wireless, residential, sports, and media to Canadians and Canadian businesses. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. The companys shares are on track for a third consecutive year of declines that hasnt happened since the 1990s and trade at a big discount to its major rivals, partly because of the turmoil and a perception of poor governance. Unauthorized distribution, transmission or republication strictly prohibited. Privacy. In the meantime, the revolving door still spins at the companys headquarters in Toronto. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. Hed be pissed.. Rogers totally committed to Shaw acquisition, chair says as CRTC hearings begin, Joe Natale out as Rogers CEO, to be replaced by former CFO Staffieri, Its the founders way or the highway: Governance at Rogers has raised eyebrows before, Rogers faces recruiting trouble if CEO is ousted, Newhaven president says, 'Its the founders way or the highway': Governance at Rogers has raised eyebrows before, tap here to see other videos from our team, Unlimited online access to articles from across Canada with one account, Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on, Enjoy insights and behind-the-scenes analysis from our award-winning journalists, Support local journalists and the next generation of journalists, Daily puzzles including the New York Times Crossword, Access articles from across Canada with one account, Share your thoughts and join the conversation in the comments, Get email updates from your favourite authors. That committee included three people MacDonald, director John Clappison and Melinda Rogers-Hixon, Edward's sister. He was actually quite principled, and I think hed kick our ass, frankly, she said. Rogers Communications Inc. has created a committee to set the rules for how Chairman Edward Rogers can interact with senior executives after he tried and failed to fire Chief Executive Officer Joe Natale. Thirteen years and youve had four heads of cable? Melinda M. Rogers-Hixon. And not even six months of operating experience, she said. Former CEO experience would be, frankly, very nice as well. Staffieri is a career finance executive who hasnt been a CEO before. from the University of Western Ontario and a M.B.A. from Joseph L. Rotman School of Management at the University of Toronto. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. I find it quite regrettable.. The Toronto-based telecommunications company said the group is made up of three directors, including Edwards sister Melinda Rogers-Hixon. What followed was an extraordinary series of events that transfixed corporate Canada. But it will be the largest and most complex deal Rogers Communications has ever done, assuming it can win approval from regulators. But it will be the largest and most complex deal Rogers Communications has ever done, assuming it can win approval from regulators. Please try again. In a release Sunday night, the board that Mr. Rogers is leading said he intends to ask the British Columbia Supreme Court to validate the legality of his move. Age : 51. Rogers-Hixon, her sister, mother, and numerous directors on the board were against the move; Rogers succeeded in the end.