MONTRÉAL, March 11,
2024 /CNW/ - The Boards of Directors of Cogeco
Inc. and of Cogeco Communications Inc. (TSX: CGO) (TSX: CCA)
(collectively "Cogeco" or the "Company") announced today that they
have appointed Frédéric Perron as President and Chief Executive
Officer and Director of both Companies, effective immediately,
succeeding Philippe Jetté who is retiring. Mr. Perron previously
held the position of President of Cogeco Connexion, Cogeco's
Canadian broadband business. This appointment follows a thorough
Board-led succession planning process. To facilitate a seamless
transition in leadership, Mr. Jetté will serve as a strategic
advisor to the incoming CEO and Boards of Directors until
August 31, 2024.
"We are very pleased to announce the appointment of Frédéric as
CEO," said Louis Audet, Chairman of
the Board. "He has long been identified as a proven leader within
Cogeco and his appointment is the culmination of a continuous
succession planning exercise that is driven by our recognition of
the importance of leadership roles in the achievement of the
strategic goals of our Company. Frédéric's industry knowledge,
strategic agility, transformation mindset and passion for
innovation, along with the value creation he's exhibited during his
tenure with Cogeco and in previous roles, give the Board tremendous
confidence in his ability to serve as CEO," continued Mr. Audet.
"He is a respected leader who is able to align and rally teams to
raise the bar on performance and will continue to position Cogeco
as a growing force in the North American telecommunications and
media sectors."
Since joining Cogeco in September
2020, Mr. Perron successfully repositioned Cogeco's Canadian
broadband business by building a high-performing team,
step-changing execution, accelerating customer growth, completing
three important acquisitions, scaling a digital flanker brand and
expanding Cogeco's high speed network. Prior to joining Cogeco, Mr.
Perron led T-Mobile's consumer business in Poland, held executive roles at Vodafone in
the United Kingdom and the
Czech Republic, and ran customer
base management at Rogers Communications. He has a proven track
record as a change agent with broad experience in broadband,
wireless and the credit card industry across five countries leading
marketing, sales, customer service, operations, digital, product,
network, IT, and legal.
"I am incredibly honoured and excited to lead our Company and
its talented employees, and look forward to pursuing our current
corporate strategy and extending our track record of growth," said
incoming President and CEO, Frédéric Perron. "I want to thank
Philippe for his leadership and counsel over the last several
years, and wish him all the best in his retirement."
"Serving as Cogeco's President and CEO has been a privilege,"
said Mr. Jetté. "Over the past six years, we have significantly
grown and diversified our business, improved operational
efficiency, expanded and evolved our networks, and laid the
foundation for the launch of mobile services. Given Frédéric's
international telecommunications background and past performance
leading our Canadian broadband business, he is the right leader to
take Cogeco to new heights."
"On behalf of the Boards of Directors, we thank Philippe for his
dedication and contributions during a period of growth in our
Company's history," said Mr. Audet. "Under Philippe's leadership,
Cogeco has grown to become a leading Canadian communications
company with revenue of $3 billion
annually. Over the next few months, we will be working closely with
Frédéric and Philippe to ensure a seamless transition."
Mr. Jetté will step down as a director of both companies,
effective today.
About Cogeco Inc.
Rooted in the communities it serves,
Cogeco Inc. is a growing competitive force in the North American
telecommunications and media sectors, serving 1.6 million
residential and business customers. Its Cogeco Communications
subsidiary provides Internet, video and phone services in
Canada, and in thirteen states in
the United States through its
business units Cogeco Connexion and Breezeline. Through Cogeco
Media, it owns and operates 21 radio stations primarily in the
province of Québec as well as a news agency. Cogeco's subordinate
voting shares are listed on the Toronto Stock Exchange (TSX: CGO).
The subordinate voting shares of Cogeco Communications Inc. are
also listed on the Toronto Stock Exchange (TSX: CCA).
SOURCE Cogeco Inc.
