WINNIPEG – MTS Allstream has named former Teranet head Jay Forbes as its new CEO and member of its board of directors, effective January 1, 2015.
Forbes will replace the retiring Pierre Blouin, though Blouin will remain the existing CEO and as a director through December 31, 2014, the company said Monday. Blouin has been CEO since 2005.
Most recently the CEO of electronic land registration company Teranet Inc., Forbes also brings Canadian telecommunications expertise gained while he was president and CEO of Aliant (now Bell Aliant) from 2001 to 2006. He was also the president of U.S. electronics distributor Ingram Micro’s Europe, Middle East and Africa operations.
"MTS Allstream operates in a dynamic and rapidly changing environment”, said David Leith, chair of the board of directors, in the announcement. “We operate in an important part of the Canadian economy with great opportunities ahead of us, and there is no better person to lead the Company. Forbes is an inspirational leader with strong strategic insights, a history of excellence and the proven ability to create value for the businesses he has operated."
"MTS Allstream has a wealth of strategic assets, a strong and capable workforce and great brands. I couldn't be more excited to have been chosen to lead the Company," added Forbes. "Further, the opportunities to drive profitable growth at MTS Allstream are considerable. 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, organizational capabilities and investor expectations. Thereafter, we will share a refreshed view of our strategy to create meaningful value."
Forbes will be moving to the Winnipeg area and be based at MTS Allstream's headquarters in that city.
Forbes' appointment comes following a comprehensive international CEO search process undertaken by the board with the assistance of two executive recruiters, in which both internal and external candidates were considered, the announcement continued.
Canaccord Genuity managing director/head of research Dvai Ghose said that Forbes is “well positioned for the job” and noted his “significant regional ILEC management experience” from Aliant. “While we did not always agree with Forbes, we enjoyed working with him while he was at Aliant”, Ghose wrote in a note to clients Monday, adding that he remains “cautious” on MTS shares.
