Rogers Communications Inc. is launching a countersuit against former CEO Joe Natale that looks to have him repay more than $15 million in severance to the company that fired him. Natale attends the Rogers Communications annual general meeting in Toronto on Thursday, April 18, 2019.THE CANADIAN PRESS/Chris Young
TORONTO – Rogers Communications Inc. is launching a countersuit against former CEO Joe Natale that looks to have him repay more than $15 million in severance to the company that fired him.
In a filing in Ontario Superior Court on Tuesday, the telecommunications giant claims Natale tried to subvert corporate governance and his fiduciary duties for personal gain.
Rogers says it has no further obligations to the former CEO, and that he must now answer for his conduct. None of the claims have been tested in court.
The company’s statement of claim comes less than three weeks after Natale filed suit against Rogers for wrongful dismissal and breach of contract, while alleging chairman Edward Rogers carried out what the suit deemed malicious conduct.
In court documents Natale alleges that Edward and his wife Suzanne Rogers attempted to tarnish his reputation following his ouster in November 2021, and demanded a combined $24 million for himself and his firm Natale Industries Inc.
Natale’s departure from the Toronto-based company was announced after a boardroom power struggle over the chairman’s desire to replace him with then-chief financial officer Tony Staffieri, now Rogers’ CEO.
This report by The Canadian Press was first published Sept. 5, 2023.
Companies in this story: (TSX:RCI.B)
