SAINT JOHN, N.B., and MONTREAL – Aliant CEO Jay Forbes announced today he’ll be leaving the company on July 31st.
By then, it’s expected that substantially all of the necessary regulatory approvals will have been received for the creation of the new Bell Aliant Regional Communications Income Fund as announced on March 7th* of this year and reported by www.cartt.ca.
The new income trust, which is to be headquartered in Atlantic Canada, will hold approximately 3.4 million lines in the east, as well as many small to intermediate-sized towns in Ontario and Quebec.
Stephen Wetmore, a former NewTel and Aliant CEO, who is currently group president – corporate performance and national markets for Bell Canada will assume responsibility as president and CEO of the proposed Bell Aliant Regional Communications Income Fund.
"Together with BCE, we have created one of North America’s largest regional wireline service providers, and Canada’s largest business trust. In considering the transformation to a new organization, as well as my own aspirations, this seemed to be a natural point to consider new career opportunities," said Forbes, 45, in today’s press release.
Forbes took over in March of 2002 when Wetmore took on more responsibilities under BCE’s corporate auspices.
"Jay has made a tremendous contribution to Aliant, delivering exceptional results for the organization in areas of financial performance, customer focus, employee engagement and shareholder value. He has built a very strong and capable management team at Aliant, who will no doubt make significant contributions to the building of the new organization. We have benefited from Jay’s leadership, professionalism and expertise, and we wish him nothing but success in his future endeavours," added Aliant chairman, Charles White.
"Stephen is a very experienced executive with a thorough understanding of both Aliant and Bell," said BCE CEO Michael Sabia, in the release. "I am delighted he has accepted to take on this strategically important new assignment. "
