Toronto-based Rogers Communications (NYSE:RCI) will get a new CEO later this year.
On Thursday, Rogers announced that it has hired Vodafone UK Chief Executive Officer Guy Laurence away from that company to become its own President and CEO, when current CEO Nadir Mohamed retires later this year. Laurence will take office on December 2.
The move is a step up for Laurence, who will be shifting from a company that does $11 billion in revenues annually, to one that does nearly $13 billion. But Rogers thinks Laurence is up to the task, having worked in the telecommunications, pay TV, and media industries for the past 30 years, including spending the past five years as head of Vodafone's UK subsidiary.
In a statement, Rogers Chairman of the Board Alan Horn described Laurence as: "...a strong, proven executive who has consistently delivered strong financial and operating results in highly complex and competitive markets. The breadth and depth of his experience in telecommunications, pay television and media are perfectly suited to Rogers and to the challenges and opportunities we see ahead."
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Rogers Communications (USA) and Vodafone. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.