MONTREAL – As was expected, Bell Canada’s incoming owners have selected George Cope as the new chief executive officer of the company.
Less than a month ago, current CEO Michael Sabia told investors he intended to step down once the sale of the company was complete. According to a memo sent to employees this afternoon, completion of the transaction is expected “toward the end of the first quarter of 2008.”
The new investors group led by Ontario Teachers’ Pension Plan, Providence Equity Partners and Madison Dearborn Partners have selected existing president and COO George Cope to be CEO.
“I have every confidence that George will be a great leader for the business in the years ahead. With a deep understanding of telecom, real insight into evolving customer needs and an appreciation of the perspectives of private investors, George is exceptionally well suited to lead the Company once we turn the page and begin a new era,” said Sabia in his memo to employees.
Until the transaction if complete, Sabia said he and Cope will be “focused on three priorities: completing the transaction on time; closing out the remainder of 2007 with improving performance; and developing and implementing the operational plan we need for 2008. I know I can speak for George in saying that we are both committed to providing you with an absolutely smooth transition as the closing of our transaction approaches in the first quarter.
“So let’s all stay focused on what matters most – delivering on our day-to-day commitments to strengthen our business and to improve service to our customers,” wrote Sabia.
Cope has extensive telecommunications leadership experience. He joined Bell Canada in 2005 as president and COO and has been expected ever since then to be Sabia’s successor. In his current role, Cope leads the company’s customer-facing units, including residential (wireline, Internet and video), mobility, enterprise, SMB and wholesale. Prior to joining Bell, Cope served for five years as president and CEO of Telus Mobility and prior to that led Clearnet for 13 years.
"I am pleased and excited by the opportunity to lead BCE as it enters a dynamic new era," said Cope in the press release. "We have a strong market position and compelling opportunities for profitable growth. We will continue adding to our innovative suite of residential and business communications services while focusing on providing all our customers with the highest quality service. I look forward to working with Teachers’, Providence, Madison Dearborn and the talented Bell team to continue to grow the business in the years ahead."
"We respect Michael’s decision to step down and greatly appreciate his valuable contributions and efforts during his tenure to streamline BCE and provide the foundation for continued success. We are fortunate to have George, a proven and exceptional telecommunications executive, ready to lead BCE forward. He has a tremendous track record of driving growth and innovation at leading telecommunications companies, and a deep understanding of the Canadian marketplace. We look forward to working together with George and everyone at BCE to serve customers and build value in the years ahead,” added Jim Leech, president and CEO-designate, Ontario Teachers’ Pension Plan.
