Entwistle says he looks forward to ‘new things’ with next leadership
By Ahmad Hathout
Telus announced Thursday that long-time president and CEO Darren Entwistle will retire June 30 after a succession process selected board member and former CIBC chief Victor Dodig to replace him.
Entwistle will also step down from the board but will stay on as advisor available to the new head until April 30, 2027. He will also be designated as CEO Emeritus.
Entwistle, who was awarded the Order of Canada in 2018, had spent 26 years at the helm of the Vancouver-based telecom. He was replaced by Joe Natale in 2014, but stayed on as executive chair before retaking the leadership.
He led the expansion of Telus from a regional telecom to a global technology company operating various businesses, including health and digital solutions, and with a social impact arm dedicated to giving back to the community.
“It has been a tremendous privilege to be a member of the TELUS team,” Entwisle said in a press release. “The success we have realized belongs to the extraordinary people who have built so passionately the amazing culture that sets this company apart.”
“Darren’s leadership and his tremendous passion for our business, our people and our customers have delivered industry-leading shareholder value, superior strategic positioning and potent societal trust,” John Manley, chair of the board, said, adding Entwisle is “one of the greatest builders and innovators in the annals of Canadian business and global telecommunications.”
“Darren built TELUS into a company that proves commercial success and social impact are not competing ambitions, they are mutually reinforcing. Under Darren’s leadership, the TELUS team has consistently demonstrated a shared passion for purpose, fusing technology, social innovation and human compassion to create a friendlier future for all stakeholders.”
Entwistle is giving way to Dodig, who has been an independent director of the board since 2022. The former head of CIBC from 2014 to 2025 will join the Telus leadership team on May 1 and then take over Entwistle’s position on July 1. Manley pointed to Dodig’s experience building the bank into a “digitally focused institution.”
An MBA from Harvard, Dodig worked as a management consultant at McKinsey & Company in the mid-90s and then was a managing director at Merrill Lynch and at UBS before starting his career at CIBC in 2005 in various executive roles before he took over the helm in 2014.
Entwistle said on a four-quarter earnings conference call Thursday that he is excited to see how the new leadership embraces “new ideas and new opportunities and new things for the company to sink their teeth into so they make their mark on the organization in a positive way” with a customer-first focus.
In a release, Dodig said: “I am deeply honored by the opportunity to lead TELUS on this journey. TELUS has built a remarkable foundation with leading network infrastructure, a strong portfolio of growth businesses and a distinctive culture rooted in putting customers and communities first that sets the company apart globally. TELUS also has an outstanding track record of fostering strong partnerships with Indigenous communities, customers and stakeholders. I look forward to working together with the talented leadership team and team members worldwide at a company whose values align profoundly with my own. I am excited to build on Darren’s legacy and by the opportunity to lead TELUS in its exciting next chapter.”
The company reported revenue of $5.23 billion in the fourth quarter of 2025, down two per cent compared to the same period last year, partly attributed to lower mobile equipment revenue and other income that was offset by slightly higher service revenue. Net income was down nine per cent to $290 million.
The telecom added 50,000 net new mobile wireless subscribers in the quarter, down nearly 30 per cent from the same period last year. Monthly average revenue per user (ARPU) was down 1.6 per cent to $57.10, but churn improved four basis points to 1.46 per cent. Gross adds were nearly 500,000, down five per cent over the same period, for a total base of 10.3 million – up two per cent.
Telus also added 35,000 net new internet subscribers, down five per cent against the comparable period, for a total base at 2.8 million – up two per cent.
It added 16,000 new television subscribers, down 41 per cent over the same period, for a total base of 1.45 million – up four per cent.
Landline losses were 13,000, a 30 per cent increase year-over-year, for a total base of 973,000 – down six per cent.
New connected device subscribers were 287,000, up nearly 50 per cent, for a total of roughly 4.45 million – up 19 per cent over the equivalent period.
New security and automation subscribers were 2,000, down 80 per cent, for a total base of 1.15 million – up three per cent.
Telus Health revenue was up 13 per cent to $539 million in the quarter.
