Regional Canadian operator Manitoba Telecom Services (MTS Allstream) has named a successor to long-time CEO Pierre Blouin, who plans to retire at the end of the year.
Following an international search, MTS Allstream has appointed Jay Forbes as its new…
Regional Canadian operator Manitoba Telecom Services (MTS Allstream) has named a successor to long-time CEO Pierre Blouin, who plans to retire at the end of the year.
Following an international search, MTS Allstream has appointed Jay Forbes as its new CEO who will sit on the telco’s board.
Forbes’ most recent corporate role was as president and CEO of electronic land registration company Teranet, which he left at the start of 2013.
He was previously CEO of fixed-line operator Aliant, which operates in Eastern Canada. Forbes led the operator between 2001 and 2006, up until incumbent Bell Canada acquired a controlling stake in Aliant.
In a memo to investors, RBC Capital Markets analyst Drew McReynolds said: “We see the “fit” given the combination of core telecom experience and technology and restructuring experience, against the backdrop of improving Allstream performance and an eventual exploration of strategic options for the asset.”
Outgoing CEO Blouin, who has led the company since 2005, said he plans to help Forbes settle into the role.
Commenting on his appointment, Forbes said he saw opportunities for growth, but would first concentrate on getting to know the business: “To better understand the best pathways for achieving this, my first few months in the role will be largely focused on gaining a deeper understanding of customer needs, organisational capabilities and investor expectations.”
“Thereafter, we will share a refreshed view of our strategy to create meaningful value.”
MTS Allstream has been quiet since a strategic review in 2013 led to a C$520m (US$497m) takeover offer for its business communications unit, only for the government to block Egyptian businessman Naguib Sawiris’ planned purchase due to national security concerns.
The decision was a setback for the telco in its bid to address its pension deficit, which MTS is still looking to resolve long term.
