WINNIPEG – Kelvin Shepherd is stepping down from his role as president of MTS in October while chief financial officer Wayne Demkey will be leaving the company on July 31, MTS Allstream announced late Monday.
CEO Jay Forbes will take on the responsibilities of president of MTS, the announcement continued, and Paul Cadieux will assume the CFO role after the completion of the second quarter reporting cycle on July 30, 2015.
The moves come after the company’s strategic review earlier this year that saw 25% of Allstream’s workforce cut and a public commitment to a stronger customer-first focus, growing core revenues quicker, simplifying its processes, and reinventing its brand.
"Kelvin Shepherd has been an important part of the MTS family for 15 years during a time marked by significant change in the telecom industry," said Forbes, in the announcement. "Under Kelvin's leadership, MTS contributed so many firsts for Manitobans; MTS being the first telecom provider to launch TV in 2003, the first to roll-out LTE in Manitoba, the first in Canada to launch IPTV. We appreciate Kelvin's contributions and his many years of service."
"In light of the outcome of the recent Strategic Review process and given that Allstream is not strategic to the future of MTS and its shareholders, I have decided to use this as a logical time to retire," added Shepherd. "I remain fully engaged in the business, continuing to focus on successful execution on the new strategic plans, and will work to ensure a seamless leadership transition to Jay."
Demkey, who the company said is leaving to pursue other interests, will work together closely with Cadieux to close out the second quarter and to ensure a seamless transition of the CFO role. Cadieux joined the company 18 years ago and is currently VP of finance, procurement and real estate.
"The Board and I are confident that Paul Cadieux will be a strong addition to our executive team," added Forbes. "We would like to thank Wayne for the sound financial stewardship of our organization over the past 19 years. Wayne has built a great team of finance professionals, including Paul, that will stand us in good stead in the future."
