Canadian telco Telus (TSX: T) has named Darren Entwistle as its new president and CEO and Dick Auchinleck as independent chair following what it said was an extensive review by the board of directors.
Entwistle replaces Joe Natale, who recently…
Canadian telco Telus (TSX: T) has named Darren Entwistle as its new president and CEO and Dick Auchinleck as independent chair following what it said was an extensive review by the board of directors.
Entwistle replaces Joe Natale, who recently indicated that a move to western Canada would not work for him and his family, the company said in a surprise announcement today, noting that the board has determined that the CEO should reside in the west, where it is headquartered. Natale first joined Telus in 2003 and previously served as its chief commercial officer.
Natale has agreed to serve in an executive, non-board capacity until the end of the year to ensure a smooth transition, the company said.
Entwistle, who is based in Vancouver, and Auchinleck have both agreed to take on the roles on a long-term basis.
Entwistle has held his current role as executive chair since May 2014. He was the company’s CEO between 2000 and May 2014.
Commenting on Entwistle’s new role, Auchinlek said: “”Since 2000, under his leadership, Telus has become a recognised global leader in shareholder value creation, technology innovation, human capital development and employee engagement, as well as corporate social responsibility.”
Analysts do not expect any further changes to the company’s management team, strategy or financial priorities.
Telus describes itself as Canada’s fastest growing national telco with C$12.3bn of annual revenue and 13.9 million customer connections, including 8.4 million wireless subscribers, 3.1 million wireline network access lines, 1.5 million internet subscribers and 954,000 Telus TV customers.
