Rogers Communications Inc.
), a leading Canadian telecom and cable TV operator, has assigned
Guy Laurence as the next president and Chief Executive Officer
(CEO) effective Dec 2, 2013. Guy Laurence aged 51, will replace
Nadir Mohamed who plans to quit later this year.
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During Nadir's 13 years tenure, the company witnessed consistent
growth with both revenues and earnings per share (EPS) growing at
a three-year (2009-2012) compounded annual growth rate (CAGR) of
2.6% and 12%, respectively.
Management believes that Guy's 30 years of experience in telecom,
pay-TV and media will certainly benefit Rogers Communications in
the long run. Guy headed
Vodafone Group Plc.
) Netherlands division from 2000 - 2005, before he was shifted to
the company's U.K. division. He also held important positions in
many corporate firms which includes MGM studios.
In the recently concluded second quarter of 2013, Rogers posted
mixed financial results with the bottom line missing the Zacks
Consensus Estimate whereas the top line surpassed the same.
At present, Rogers has expanded its superfast LTE network to 60%
of Canada and expects to achieve a 100% foothold by late 2013.
Hence, we believe that the appointment of the new CEO will be
crucial to the company's future.
Currently, Rogers Communications has a short-term Zacks Rank #3
Other Stocks Outlook in Related
Other stocks in this sector like
) are set to gain from the extensive/increasing LTE deployment in
the upcoming days. Currently, both TELUS Corporation and BCE Inc.
have a Zacks Rank #3 (Hold).