Rogers Communications Inc. (TSX:RCI.B)
Canada flag Canada · Delayed Price · Currency is CAD
49.33
-0.47 (-0.94%)
At close: Apr 28, 2026
← View all transcripts

AGM 2021

Apr 21, 2021

Edward Rogers
Chair of the Board, Rogers

Good morning, ladies and gentlemen. My name is Edward Rogers, Chair of the Board. On behalf of the Rogers Family, the Rogers Board, and the Officers of Rogers, I want to thank you for attending this year's annual general meeting. Once again, this year is a result of the unprecedented public health impact of COVID-19. To support the health and safety of our customers, shareholders, and employees, we are hosting our annual general shareholders meeting virtually, accessible to all of our shareholders no matter where they are. 2020 tested our business as it never has, and our team rose to the challenge. We prioritized the actions we needed to take as a result of COVID, and our results started to improve over the second half of 2020. We ended the year with a strong balance sheet and solid efficiency gains across the board. Our underlying assets were very strong.

We generated free cash flow of CAD 2.4 billion, an increase of 4%, and we returned CAD 1 billion in dividends. I am tremendously proud of our real-time operational transformation to keep our employees safe and our customers connected, while continuing to pursue the opportunities to grow and innovate. The innovation was demonstrated as we rolled out our 5G leadership, launching and expanding Canada's first and largest 5G to more than 170 cities and towns across Canada. Bringing 5G connectivity to more Canadians is essential but requires significant capital and partnership. In March, we announced an agreement to combine Rogers and Shaw, pending regulatory approval. Both companies started as small family-run businesses that have grown to become large telecom companies committed to innovation, customer service, and outstanding corporate citizenship. Both founders, Ted Rogers and J.R.

Shaw, brought us new products and services, created tens of thousands of jobs, and we're both immensely proud to call Canada home. It is a privilege for our family and our company to team up with Shaw, the legacy of J.R. Shaw, and the legacy of his son, Jim Shaw. I wanted to thank Brad Shaw and his family personally for their confidence in Rogers and their continued partnership in our collective future. Bringing these two iconic Canadian companies into one will combine the expertise, assets, and scale to bring the next generations of telecommunications to Canadian consumers and businesses. We are excited about the shared future and look forward to keeping you updated as we go forward. In the meantime, we continue to stay focused on the business at hand, including our relentless objective to deliver the best customer service.

Last year, we developed and launched digital touchpoints and self-serve options to safely meet our customers' needs. We will continue to advance and invest in our digital strategy. I'm also very proud of how our team worked to ensure that we supported the most vulnerable folks in Canada. Last year, Rogers offered our customers a range of supports, including removing data caps, offering free long-distance and free access to content, and finding flexible options for our customers who are facing financial difficulties. We also donated funds across Canada to help those residents most in need, and Rogers and our employees set records in the amount of volunteerism and giving. The Rogers Family was inspired by what Rogers was doing, and we donated CAD 60 million to benefit Canadian charities in every single province and territory and build on the fabulous work that our company had been doing.

To my fellow members of the Rogers Board, thank you for your hard work, guidance, and leadership. We remain focused on executing for our customers and building long-term value. I would like to recognize the Rogers Executive Team, our teams across Canada, and our partners for working tirelessly to ensure our networks and our media assets continue to operate effectively for our customers. I would especially like to thank all of our shareholders for your continued confidence. We will continue to execute well for our customers and build long-term future growth and success as we emerge from COVID. In accordance with the company's articles, I will act as Chair of the Meeting, and our Legal and Regulatory Officer, Lisa Damiani, will act as the Recording Secretary. I would like to call the annual general meeting of shareholders of Rogers to order.

We will now commence with the formal part of the meeting. Registered holders of Class A shares and duly appointed proxy holders will have the opportunity to vote via the electronic ballot for any ballot that comes before the meeting. Shareholders who have already voted by proxy do not need to vote online unless you wish to change your vote. A voting panel will appear on your screen when it is time to vote on a matter. After we address the motions contained in the meeting materials and consider any other business that might properly come before today's meeting, we will close the formal part of the meeting, and then our President and Chief Executive Officer, Joe Natale, will make some comments. We will then address questions. Shareholders can submit questions throughout the meeting, but we encourage you to submit your questions early.

If you already have one, please ask it now. To submit a question through the online platform, click on the messaging icon at the top of your screen, type your message within the chat box at the bottom of the messaging screen, and then click the Send button. I will now appoint Tony [Tagagna] and Kate Harrison of AST Trust Company, Rogers' Registrar and Transfer Agent, to act as scrutineers for this meeting. The notice calling this meeting and proxy related to this meeting were mailed on March 22nd, 2021, to the shareholders of record as of March 2nd, 2021. AST Trust Company has provided proof of delivery to shareholders as required of the notice and proxy related to this meeting, with the meeting materials and the 2020 annual report and financial statements having been made available to shareholders per notice and access under applicable securities laws.

I will dispense with the reading of the notice of the meeting. I've also received the scrutineers' initial report on attendance at today's meeting, and I'm advised that there are sufficient numbers of shareholders and proxy holders in attendance to constitute a quorum. Notice having been properly given and the quorum being present, I now declare the meeting to be regularly called and constituted for the transaction of business. As noted in the meeting materials, only registered holders of Class A shares or their proxy holders are entitled to vote on matters at today's meetings. Holders of Class B shares are encouraged to participate during the questions and answer period. The first item of business is the presentation of the company's 2020 annual report and consolidated financial statements. I now formally present these items to the meeting, including the report of the external auditors, KPMG LLP.

Questions related to the financial statements will be addressed after the presentations. Before we present the election of company directors, I would like to take a moment to recognize and thank John Clappison for the value he has added to our board in over 15 years of service. During his tenure, John served in various roles, including as lead director and as chair of the Corporate Governance and Audit and Risk Committees. We extend our sincere appreciation and wish John and his family well. The board has fixed the number of directors to be elected at this meeting at 14, and we will now proceed with the election. The nominating committee intends to nominate all proposed directors whose names are contained in the meeting materials. I now call on Melinda Rogers -Hixon to make the nominations.

Melinda Rogers-Hixon
Director, Rogers

I nominate the following persons for election as directors of the company: Bonnie Brooks, Robert Dépatie, Robert Gemmell, Alan Horn, Ellis Jacob, Phil Lind, John MacDonald, Isabelle Marcoux, Joe Natale, David Peterson, Edward Rogers, Loretta Rogers, Martha Rogers, and Melinda Rogers -Hixon, and move that they be elected directors to hold office until the next annual meeting of shareholders.

Second the motion.

Edward Rogers
Chair of the Board, Rogers

Melinda and Jason, thank you. As no other nominations have been received, I declare the nominations closed. As the number of nominees is the same as the number of directors to be elected, I hereby declare that all individuals nominated have been elected directors of Rogers until the next annual meeting. The next item of business is a resolution appointing the auditors for Rogers. I now call for a motion. Robert, make the motion for the appointment of auditors.

Thank you, Mr. Chairman. I move that KPMG LLP Chartered Professional Accountants be appointed as auditors of the company to hold office until the next annual meeting or until their successor is appointed.

Second the motion.

Robert and Jason, thank you. Management has received proxies representing approximately 97.6% of the corporation's Class A Shares. These proxies direct me to vote over 97.6% of the Class A Shares in favor of the resolution. If you are a registered holder of Class A Shares or a duly appointed proxy holders, please record your vote for the auditors now via the online platform. If you have already voted or sent in a proxy, there is no need to do anything unless you wish to change your vote. We will now take a short pause for the voting. The voting is now closed. I declare the motion carried. The final voting results will be released later today. Ladies and gentlemen, as there is no other form of business that has properly been brought before this meeting, I declare the meeting now closed.

We will proceed with some comments from Joe, our President and Chief Executive Officer. Following these comments, we will address questions of shareholders. Again, if you have a question, please submit it now. To submit a question through the online platform, click on the messaging icon at the top of your screen, type your message within the chat box at the bottom of the messaging screen, and then click the Send button. I caution everyone that the presentations and discussions today may contain forward-looking statements. Such statements are based on assumptions as to the future and on management's current expectations and are naturally subject to risk and uncertainties, as noted on the slide now being shown. You should review Rogers' 2020 annual report and first quarter 2021 MD&A. Before I call on Joe to say a few words, I wanted to discuss the proposed combination of Rogers and Shaw.

We've been asked how much competition and wireless should there be in Canada. Our answer is Rogers supports strong and vibrant competition in all of our businesses. We support as many carriers as want to enter into or expand into the wireless business that can compete on their own merits. Every business Rogers is in today is highly competitive, and we perform better as a company when our customers see the choices available to them and how Rogers stacks up. Rogers Communications launched wireless in 1985 to an industry that was thought at that time to perhaps grow to only 120,000 customers in Canada when fully mature. Rogers at the time was tiny compared to Bell, as they tell us today, and other telcos across Canada, all of them immensely profitable. Rogers at that time was not profitable, and we were losing considerable amounts of money every year.

We were called debt-stuffed and debt-laden, and we did not make a cumulative profit in wireless for well over 20 years. A large part of that is we were bullish on the opportunity in front of us, and we were investing in our business and our future. We were investing in Canada. Yet, despite our size and our relative position against the telcos, we had the same rules as our competitors, and we never gave up on the dream of a fully connected Canada. In fact, we sold our growing U.S. cable business in the United States to return and invest the capital back into Canada and help build our wireless and cable businesses. Today, as we look forward, Rogers is building the next generation of wireless 5G across Canada. We know that requires even more commitment, long-term focus, and willingness to build and invest.

That's why we're coming and joining with Shaw. While some have commented against the deal, I want them to know that we welcome them with open arms to invest in the wireless business and in networks to provide all Canadians with world-class connectivity that they need, they deserve, and they expect. We should also be looking forward to the next 10 or 20 years. Where are we going? Not just where have we come from. The Rogers Shaw deal is about where we are going the next 20 years. How can Canada participate in a global industry with global platforms and technologies that are increasingly posing a challenge to Canadian companies and Canadian culture? Our priorities today should be first to address the Canadians from coast to coast who do not have one good choice for wireless or broadband data.

In regions that do not have a real second choice, our combined entity will invest CAD 1 billion to bring connectivity and accessibility to all parts of Western Canada, including rural, remote, and Indigenous regions through the Rogers Rural and Indigenous Connectivity Fund. This is an essential investment in approximately 600,000 households in Western Canada currently being underserved. The second element is to understand how fast the landscape is changing, making sure that Canadians have continued access to high-quality networks and that Canadian companies can still add value. Canada has some of the very best wireline and wireless networks in the entire world, and we should be proud of that. Bell, Telus, and Vidéotron and others are our primary competitors in wireless, but it is increasingly a global world, and our competitors are also increasingly global platforms and brands.

10 years ago, wireless made the most of its revenue and profit from the monthly service fee, which was built around the voice product. But the world has now changed to a broadband data-focused world, both on cable and wireless. A short 10 years later, our customers have an array of choices for voice connectivity. Our customers can communicate on the Rogers phone via the dedicated voice network in Canada and seamlessly worldwide through our Roam Like Home service. They can also choose an alternative carrier in Canada, or they can use Apple's FaceTime product, Facebook's WhatsApp product, and dozens of other choices. With the advent of 5G and mobile and fixed ultra-broadband wireless, we anticipate similar changes in the markets with wonderful new products and services for consumers and businesses across Canada in the future years.

Twenty years ago, Rogers made the majority of its revenue and profit from the cable TV business. Today, Canadians can get content from Rogers, other Canadian choices, Netflix, Amazon Prime, and hundreds of other streaming services from within Canada and around the world. Rogers started in media. My grandfather started CFRB, which is now part of Bell, and my father bought CHFI, founding what is now Rogers. Rogers and other great Canadian companies expanded into broadcast television, specialty television, newspapers, and so much more. But today, as the world moves to digital, 80% of the digital advertising revenue in Canada goes to Facebook and Google. Canadian content, voices, and culture are at risk in this new world, and traditional media in Canada is shrinking at an alarming rate.

As a country, we need to look at these global trends and understand how we fit into them, how can we play, and perhaps how we should not play. Today's telecommunications networks require scale to compete on the world stage. We believe passionately that the Rogers-Shaw will help contribute to a stronger facility-based future for Canada. 5G is a giant part of that. Today, Rogers has Canada's largest 5G network across Canada. When we combine Rogers' scale, capital, experience with Shaw's existing cable, fiber to the home, Wi-Fi hotspots, and mobile wireless networks, we'll be able to deliver this transformational technology to Western Canadian businesses, consumers, communities, and institutions far more quickly and efficiently than either company could do on its own. The promises we have made as part of the combination of Rogers and Shaw are bold, but it is what is needed.

It will benefit our customers and our future, but it should and it does provide strong benefits for Canada. Rogers has a proud 60-year track record of meeting the commitments that we put forward. We will continue to do so, and we will definitely do so again here. In conclusion, we need to continue to look forward. We need to keep investing in the future. Canada needs to have a vibrant competitive environment that incentivizes capital investment, especially in remote and underserved parts of Canada. It is time. We also need to recognize that Canada is not just competing with itself against itself, but we're increasingly part of a global competitive landscape. I am very proud of the many contributions that Rogers has made to help shape the telecom and media landscape in Canada for a couple of generations.

We are excited to be investing today, and we will look forward to continuing that legacy of investment for the future, creating jobs right here in Canada, and contributing to Canada for decades to come. Thank you very much. I am now pleased to call on our President and Chief Executive Officer, Joseph Natale, to say a few words. Joe.

Joe Natale
President and CEO, Rogers

Thank you, Edward, and thanks to everyone for joining us on our second virtual AGM. When I thought about my remarks today, I thought about our company's purpose to connect Canadians to what matters most, to make more possible. That has never been as clear as it was over the past year. Today, I'd like to talk about how that purpose will continue to guide our focus as our company helps Canada in the post-pandemic recovery ahead and in addressing the future realities of our nation's global competitiveness. Over the past year, we've experienced a once-in-a-generation transformation across almost every part of our lives, from how families stay connected, businesses reach their customers, and students continue to learn. Through it all, our networks have been a key part of making those changes possible.

Our people have been there every step of the way, from building and maintaining our networks to making it easier and safer for Canadians to stay connected with services like Pro On-the-Go that bring the retail experience to our customers safely, or our new app that allows our team to virtually coach customers through technical support and equipment installations, and earlier this week, our teams worked around the clock to restore full service as we experienced intermittent wireless service issues on our network. This was caused by a software update with one of our partners. Thank you to each and every one of our customers for your patience and your commitment as we resolve this issue. We're undertaking an in-depth review of this with our network partner, and we'll use the findings to help prevent this from ever happening again.

Looking back over 2020 as a business, we successfully adapted our operations to keep our customers connected and our team safe, and while growth remained challenged through 2020, our strong balance sheet and focus on efficient operations positioned us very well for current and post-pandemic recovery efforts. We saw that with our Q1 results, which we released this morning, where we achieved total year-over-year revenue growth led by improvements in our cable and Rogers Sports and Media businesses, and low churn and strong postpaid subscriber growth in our wireless business. Additionally, despite ongoing challenges of the pandemic, we keep developing new ways to deliver for our customers while improving efficiency and successfully managing costs, and while the uncertainties that accompany this pandemic continue to shape us all in 2021, the vaccine rollout brings hope that we will see our world open up more in the coming months.

This will bring back familiar experiences and also create new opportunities for all of us. Just as the last year has had a profound impact on our lives, the upcoming recovery will as well. Experts are predicting an economic boom as businesses reopen and Canadians resume their daily activities. Recently, economists have talked about a supercharged rebound with stronger growth, return to pre-pandemic immigration levels, increased job creation, and an unleashing of pent-up consumer demand when restrictions lift. Some economists forecast Canadian economic growth as 6.2%, the strongest pace of expansion since the early 1970s. Canada must be ready for this. As the post-pandemic economy takes shape, we have an opportunity to not only rebound but redefine our place in the world, for Canada to finally close our digital divide while being a top destination for talent, for innovation, for growth. Today, we stand at an inflection point.

Just as digital connectivity was critical during the pandemic, it will be equally important to Canada's competitive future. Wireless and fiber networks will be the connective tissue that powers that future. But this also underscores the critical challenges we face as an industry and as a nation. Expanding our networks to bring digital equality to all Canadians and building the next generation of 5G innovation is what Canada needs for our future and our global relevance. Today, I want to focus on how Rogers is addressing these very big and defining challenges in three key ways. First, how we're helping bridge the digital divide at record rates. Second, how we are accelerating the rollout of 5G nationally to keep the gains we've made as a country and get us ready for new competition ahead.

And third, how we need to ensure that a supportive and enabling policy environment exists to continue to build our country's future. Together, these initiatives represent remarkable opportunity for a stronger Canada. Firstly, let me talk about closing the digital divide. The COVID-19 pandemic has demonstrated that Canada's networks are among the best in the world, consistently ranked number one or number two globally for over a decade by OpenSignal. As the pandemic hit, home internet usage in Canada surged 60% overnight as society transitioned to work from home and virtual schooling. Canada's networks not only met that demand but surpassed global average broadband speeds by 50%. This is a direct result of billions of dollars that telecommunications companies and governments have poured into network infrastructure over the past two generations. At Rogers, that amounts to CAD 60 billion investment over the last 35 years.

These collective investments and networks have served the country well so far. But today, Canada stands at a crossroads. Today, some two million rural Canadian households are digitally underserviced and left behind. Only half of rural Canadians and only about one-third of Indigenous communities have access to high-speed internet. The ability to learn online, the ability to be part of the digital economy should not depend on your postal code. Solving this urgent problem requires partnerships among all sectors, and I'm proud of our company's efforts in this area. This year alone, we were part of Canada's largest private partnership for wireless network expansion with the Eastern Ontario Regional Network that will cover 99% of where people live, work, and play, bringing 5G speed and connectivity to over 11,000 km of major roadways by 2025 in Eastern Ontario.

Also, with the Southwestern Ontario Integrated Fiber Technology, or SWIFT initiatives we've been awarded, we have helped create the right opportunities for major investments to better connect rural Ontario, and our efforts spread across our vast country. We are part of the federal government's Universal Broadband Fund program, which is providing CAD 2.7 billion to support an abundance of high-speed internet projects across the country, and just this month, in partnership with the British Columbia government, Rogers will begin work to build comprehensive wireless coverage for the first time along two of the province's highways. This includes 252 km of new cellular coverage along Highway 16, known as the Highway of Tears, for its connection to missing and murdered Indigenous women. Soon, those who need to call for help along that remote stretch of highway will be able to reach 911.

We are proud to be part of this work and close these critical communications gaps. These programs all make a difference. But given Canada's vast geography, more must be done. As we work hard to close the geographical divides, Canada faces another growing digital divide, this time between our nation and global competitors. 5G has changed the game, and many other nations are moving swiftly to play it aggressively. To be clear, Canada is playing catch-up to other global leaders in 5G. We can't afford to be left behind, especially after the myriad efforts across all sectors to attract and develop a highly skilled workforce, including technology talent. We simply can't risk seeing that talent shrink or leave our country because our networks and technology can't keep pace with our nation's ambition.

5G is a fundamental technological transformation that will connect everything in our world, from people and machines to homes and cities. These are high stakes and quickly becoming table stakes for every country's productivity and innovation agenda for the future. This infrastructure doesn't just build technology. It creates jobs. It creates growth alongside it. Accenture estimates that 5G has the potential to generate CAD 40 billion in additional annual GDP for Canada and that the network build and spin-off economic benefits of the technology will create and sustain 250,000 direct and indirect jobs in our country. Make no mistake about it, Canada's networks will indelibly shape Canada's future. The infrastructure needed today is, in many ways, analogous to building the National Railroad 140 years ago, both in scale and, importantly, in implications for our future as a nation. Rogers has taken the lead in responding to that challenge.

Over the past year, we have rolled out Canada's largest 5G network, connecting 173 towns and cities. And now, together with Shaw, we're ready to take the next giant step. Our combined company will invest CAD 2.5 billion to build a 5G network for Western Canada and to create a second, far-reaching national wireline network that will better compete directly with Telus in the West and Bell Canada in the East. We will also take a major step to bridge the digital divide through the Rogers Rural and Indigenous Connectivity Fund. This CAD 1 billion investment will bring high-speed broadband to underserved rural, remote, and indigenous communities across Western Canada. These investments will create 3,000 jobs in Western Canada at a critical time, including 500 jobs in new and emerging technologies.

By combining our teams and complementary assets, we are uniquely suited to close the digital divide and accelerate the advent of 5G across the West and, frankly, across Canada. I'm excited by the potential that this brings. 5G will deliver innovative solutions for every key industry sector across our economy, from mining, oil and gas, agriculture and transportation, to manufacturing, energy, retail, and banking. We'll revolutionize healthcare. For example, 5G smart ambulances will be able to receive and transmit life-critical information at the point of care and save lives. 5G can also be revolutionary for smaller businesses, many of which suffered greatly during the pandemic. Small businesses account for half of Canada's GDP, and they, too, need digital tools to thrive. 5G isn't just about technology. It also has an affordability benefit too.

The new and innovative dynamic spectrum management capability that is part of 5G will allow Canadians to consume much more data at a much faster pace, and the cost savings through greater efficiency will be passed down to consumers, accelerating the trend in lower telecom prices we've seen for the past five years. 5G, when coupled with our recently expanded Connect for Success program, which offers high-speed, low-cost internet for as little as CAD 10 per month for seniors, families with children, or individuals receiving disability or rent geared to income support, is a game changer for many families in need. Standing back, what's clearer more than ever before is that 5G opens up a world of potential to us. Not having it reveals a harsh reality of a new economic landscape we collectively face. Today, Canada ranks only 21st out of 60 nations on the Bloomberg Innovation Index.

And the Brookings report found that Canada's advanced industries are far less productive than their U.S. counterparts. We can, and we should, be doing better. 5G connectivity and the innovation it delivers are the catalyst to help us elevate our game globally. Our partnerships with Canadian universities like the University of British Columbia, the University of Waterloo, are helping us explore the potential of 5G and ensure there's an active pipeline of highly skilled jobs and talent to support it. Together with Shaw, we will create a new national center of technology and engineering excellence in Calgary. It will be a hub of innovation, including the potential to develop new 5G applications for consumers and business. We'll create hundreds of skilled jobs and the opportunities to work with Canadian developers.

Overall, kickstarting 5G in Canada will create new high-tech businesses and jobs, diversify the economy, bring new investment, and establish our universities and technical institutions as global centers of excellence in research and innovation. We're very excited to be a driving force for this. As a third and final point, building the next generation of networks doesn't just take the right skills and capital. It also needs a supportive regulatory framework and government partnership to make it possible. It's estimated our industry will need to spend CAD 26 billion in the next five years to build and deploy 5G networks across the country. Making those investments and delivering on the promise of 5G for Canada will require partnerships between our industry, government, and community groups, but it also requires the right policy, the right regulatory environment that encourages and doesn't hinder the generational investments we need to make now.

Recently, the CRTC released its new wireless policies allowing mobile virtual network operators, or MVNOs, access to the networks of facilities-based carriers. We share the belief that investments in Canadian networks are essential. We remain focused on continuing to expand our services and affordable options for all Canadians, no matter where they live. The investments I've talked about today are essential, but they're not inevitable. They need strong Canadian companies with the ability to keep investing billions of dollars each and every year. Being a strong Canadian company goes well beyond building up physical cell towers, kilometers of fiber, or megahertz of spectrum. It's about creating high-paying jobs with Canadian-based talent. It's about building stronger communities anchored in partnerships with charities and NGOs, which are enabled by local employee engagement.

It's about animating our nation's love of sports with investments in teams and homegrown facilities so all kids get a chance to play. It's about creating an outlet and broadening the audience for Canadian voices and creative talent, including supports like the Rogers Group of Funds that has poured CAD 628 million over the past four decades into television and film productions that reflect the diversity of our country. These are the kind of investments that strong Canadian companies with deep roots can help enable. We cannot take this for granted because it's important to recognize today more than ever that competition isn't just within our borders, but increasingly against global technology behemoths with trillion-dollar-plus balance sheets.

In just over a few short years, they have reshaped how we interact with each other, how we get our news, how we're entertained, how we're informed of the most important things happening in our lives. Yet their workforces sit largely outside our borders. Their profits are reinvested elsewhere, and the dominant voices on their platforms are more global than local. When Canadian companies succeed, when Canadian companies grow, there's a benefit boost to Canada far beyond shareholder value. We can't be afraid to allow our Canadian companies to scale because we're standing in what will eventually be a rearview mirror moment that will shape Canada for years to come. We can't afford to get this wrong. Before closing, I want to say a few words to acknowledge those who've helped us, who've helped see us through an extraordinary time.

To our employees across Canada, thank you to each and every one of you. I've been inspired by your many stories of personal sacrifice and acts of kindness during this past year. You've shown up for our customers and for each other, and in a year when Canadians need it most, you volunteered 50,000 hours of your time. You helped feed thousands of hungry families and reach record levels of employee engagement, as well as helping us increase our strong commitment to inclusion and diversity. To Edward, the Rogers family, and our board, thank you for your ongoing support in building on the legacy of Ted Rogers. His entrepreneurial spirit and vision to connect Canadians continues to inspire us all. To our shareholders, thank you for your continued support as we strive to build a stronger Canada and a stronger company.

As we move forward out of this crisis, connecting more Canadians and ensuring we have the right enabling factors in place to fuel investment, to fuel innovation, and competitiveness is essential. These together will help us collectively make more possible and see Canada reemerge as a global leader. Thank you for your time.

Edward Rogers
Chair of the Board, Rogers

Joe, thank you very much. That was a great speech. With that, we will now address any questions from our shareholders. Only questions of interest to all will be addressed. If your question is related to a personal matter, a Rogers representative will contact you after the meeting. To ensure fairness to all those asking questions, discretion may be exercised in responding to the questions, including the order in which the questions are answered, the grouping of similar questions, and the amount of time devoted to any similar topic or question.

We will do our best to answer all questions. If we are unable to answer your question live, we will contact you following the meeting and follow up. Paul, do you have any questions?

Mr. Chairman, our first question comes from a David Rogers. It's for Joe. Could you please address the changes to the wireless leadership team?

Joe Natale
President and CEO, Rogers

Thank you, David, for your question. We're very pleased to welcome another David, David Fuller, to our executive team. David Fuller is a seasoned executive with deep and broad industry experience in telecom. He's a proven leader, a very respected executive, and very relevant to the journey that we're on, both in driving our growth and momentum and leadership in the wireless business, but also preparing for the work that needs to be done around the integration of Rogers and Shaw.

And we feel fortunate to have him on the team and to have him at our side as a member of the executive team at Rogers.

Mr. Chairman, we have a second question also from David Rogers. For the chair, would you please discuss the lack of diversity on the board?

Edward Rogers
Chair of the Board, Rogers

Thank you, Paul. And thank you, David Rogers, who, many of you will be asking, is not a relative. And David, thank you for asking questions because we have not gotten enough questions. And we work hard to put this on, and we're thrilled when folks do ask. Having a strong board at Rogers is essential. We have always aspired to have a board that helps us make the big choices, not just approve them. It's something we talk about and we're passionate about.

Diversity at Rogers, at our board and across our company, is something that has been a key focus of ours for many, many years and something that we're proud of. At our board, we're lucky that we have 36% of our board are women. The majority of the Rogers family are women, and it's something that we're proud of. But there's other diversity. There's cultural diversity. There's having a broad representation from across Canada as we're working with Shaw to become a more national company. And it's something we're constantly looking at and looking to improve. And we definitely want our board to speak for Canada and to represent Canada. And we're going to continue to make improvements. Thank you.

Mr. Chairman, there are no further questions.

Thank you, Paul. Ladies and gentlemen, as there are no further questions, this will conclude the Rogers annual general meeting and discussion.

Thank you for attending today. Thank you for your interest in Rogers. And thank you for taking the time to join us. Please stay healthy and stay safe. Thank you.

Mr. Chairman, we do have another question if we can have a mic.

Yep. That's perfect.

Okay. The question is from Mary Ellen Chater. I understand from what I've read in the news that Rogers has so far avoided the use of Huawei technology within their networks. Can you confirm this? And if so, will this practice continue once Rogers and Shaw has merged?

Thank you. Joe, why don't I let you answer that?

Joe Natale
President and CEO, Rogers

Thank you, Mr. Chairman. Thank you, Mary Ellen, for the question. I can 100% confirm that our network partner is Ericsson. We have a longstanding partnership and a commitment to Ericsson for 5G in the foreseeable future. And we'll continue to have Ericsson as our partner.

We have absolutely no plans whatsoever for Huawei, and we're very pleased with our partnership with Ericsson. Thank you for the question.

Edward Rogers
Chair of the Board, Rogers

Paul, any final questions?

No. There are no further questions, Mr. Chairman.

Okay. Well, again, I'd like to thank everyone for participating today. We really appreciate your time and attendance, and we do appreciate the questions that were asked. Please stay healthy and safe. Thank you.

Powered by