CALGARY – Shaw Communications has announced that effective today (Wednesday), Brad Shaw is now its CEO.
The company said in an evening release: “Jim Shaw has advanced the company’s previously announced senior management changes to become effective today.”
"We are well underway in the integration of the Shaw Media assets and it became clear to Brad and I that it would be best for Brad to assume the role of CEO immediately so that he can move forward with the necessary decisions,” the release quotes Jim Shaw as saying.
The changeover from Jim to Brad was to occur during the company’s annual shareholders meeting on January 13.
However, the investment community is agog over what appears to be some volatile behaviour exhibited by the outgoing CEO at a meeting with investors in Vancouver last week. According to sources who contacted Cartt.ca (likely some of the same ones who Globe and Mail reporters spoke to for their report), after his behaviour during the meeting (also attended by president Peter Bissonnette and CFO Steve Wilson) having the elder Shaw son stay on as CEO became an untenable situation for the big cable and media firm.
So, reads the release, Brad Shaw has become CEO of the company his father JR founded effective today, Jim Shaw will continue as non-executive vice chair and a member of the board, and Peter Bissonnette will continue as president and a member of the board.
"There has never been a more exciting time in our industry and I look forward along with our very talented management team to building upon the legacy that my father and brother have established as Chief Executive Officers" said Brad Shaw in the release.
