Rogers To TELUS, Offers Cash For CEO

How much is Joseph Natale worth to Rogers?

Joseph NataleYou will remember the world woke up to the news that Rogers had let go of Guy Laurence after 3 years in the role of CEO had named Ex-TELUS CEO Joseph Natale the new guy to sit at the head table. Slight problem, Joseph has a non-compete agreement with TELUS that has him locked in.
According to an article in the Financial Times, Rogers has approached TELUS three times over the last few months in an attempt to negotiate to have Joseph released from the contract.  Joseph still has nine months on the contract, so some quick math that works out to be above $1,041,260 which was his base salary.

Will TELUS play ball?

The article also mentioned a source as saying that TELUS would be open to discussing the matter with Rogers. There is no real upside for TELUS to expedite releasing the shackles off Joseph as Rogers is a direct competitor in so many product and service areas.  Rogers Interim CEO Alan Horn will not implement any drastic changes in the temporary role with three months till the end of the year.