Advertisement
UK markets close in 4 hours 11 minutes
  • FTSE 100

    8,147.17
    +3.04 (+0.04%)
     
  • FTSE 250

    19,934.76
    -30.63 (-0.15%)
     
  • AIM

    763.85
    +3.11 (+0.41%)
     
  • GBP/EUR

    1.1696
    -0.0012 (-0.10%)
     
  • GBP/USD

    1.2482
    -0.0013 (-0.11%)
     
  • Bitcoin GBP

    46,143.53
    -3,154.55 (-6.40%)
     
  • CMC Crypto 200

    1,242.35
    -96.72 (-7.23%)
     
  • S&P 500

    5,035.69
    -80.48 (-1.57%)
     
  • DOW

    37,815.92
    -570.17 (-1.49%)
     
  • CRUDE OIL

    80.75
    -1.18 (-1.44%)
     
  • GOLD FUTURES

    2,303.40
    +0.50 (+0.02%)
     
  • NIKKEI 225

    38,274.05
    -131.61 (-0.34%)
     
  • HANG SENG

    17,763.03
    +16.12 (+0.09%)
     
  • DAX

    17,932.17
    -186.15 (-1.03%)
     
  • CAC 40

    7,984.93
    -80.22 (-0.99%)
     

Canada's Rogers names Vodafone UK chief as new CEO

TORONTO, Sept 12 (Reuters) - Canada's biggest cable and wireless company, Rogers Communications Inc (NYSE: RCI - news) said on Thursday that Guy Laurence will take over as chief executive in December, following the retirement of current CEO Nadir Mohamed.

Laurence, currently CEO of Vodafone Group Plc's British unit, faces declining cable revenue and a challenging wireless landscape at Rogers. But he is seen as an executive who transformed Vodafone UK's corporate culture and competitive prospects via cost-cutting and a management shake-up.

"Laurence clearly has extensive wireless experience in some of the most competitive markets in the world and has obviously dealt with regulatory challenges in the EU, which could be very useful in his new role," Canaccord Genuity analyst Dvai Ghose wrote in a note to clients.

Rogers, along with its biggest rivals BCE Inc (Toronto: BCE.TO - news) and Telus Corp, are locked in combat with the federal government over rules Ottawa has put in place to encourage more wireless competition, but which the established operators say unfairly disadvantage them ahead of a key auction of airwaves.

ADVERTISEMENT

Before joining Vodafone (LSE: VOD.L - news) in 2000, Laurence worked at media companies MGM Studios, United Cinemas and Chrysalis Records.

Mohamed announced his retirement earlier this year.

Rogers shares were down 0.9 percent at C$43.07 by mid-morning on the Toronto Stock Exchange.