TELUS Corporation

TSX : T
NYSE : TU


TELUS Corporation

March 31, 2014 08:00 ET

TELUS Announces Leadership Progression

Brian Canfield retiring, honoured with Chairman Emeritus distinction

Darren Entwistle being appointed Executive Chair

Joe Natale being appointed President and CEO

Dick Auchinleck being appointed Lead Director

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 31, 2014) - Effective as of TELUS' upcoming Annual General Meeting on May 8, 2014, TELUS is pleased to announce Board and management leadership appointments that have been fostered through the company's robust succession planning process. These changes will ensure the continuity of TELUS' national growth strategy and the company's top priority of always putting customers first.

Brian Canfield retiring and being honoured with Chairman Emeritus distinction

Brian Canfield will retire following 58 years of exemplary service with TELUS and BC TEL. Mr. Canfield has served as TELUS' non-executive Chair since 1999, upon completion of the merger of BC TEL and TELUS. During this time, TELUS has become a recognized leader in corporate governance and has evolved from a regional phone carrier into a national and global communications leader. In recognition of Mr. Canfield's outstanding career and continuing passion to contribute to the company and its communities, he is being honoured with the Chairman Emeritus distinction.

"I have thoroughly enjoyed my full career as well as my tenure as Chair of TELUS," said Mr. Canfield. "Through our comprehensive succession planning process, I am very confident that TELUS is positioned for continuing success with Darren Entwistle as our new Executive Chair, Joe Natale becoming our President and CEO, and Dick Auchinleck being appointed the company's Lead Director. For me personally, the last 14 years working with Darren have been particularly rewarding, with the company having delivered globally-leading results for our investors while exemplifying world-class social responsibility in support of our customers, employees and communities."

Darren Entwistle being appointed Executive Chair

Darren Entwistle is being appointed Executive Chair of TELUS. Since 2000, TELUS has become a recognized global leader in shareholder value creation; technology innovation; human capital development and employee engagement; and corporate social responsibility. Notably, since the beginning of 2000 through March 2014, TELUS is the global leader amongst all telecom service providers with a total shareholder return of 286 per cent, outpacing the number two incumbent by 110 percentage points. Additionally, the company's customers first focus has resulted in TELUS and Koodo both receiving best-in-class service ratings from Canadians on a national basis. As reported by Brand Finance, the TELUS brand is now valued at $4.3 billion and Leger Marketing has ranked the TELUS brand #1 in Canada for the combination of awareness and likeability. In 2010, TELUS was the first Canadian company ever named as the most outstanding philanthropic corporation globally by the Association of Fundraising Professionals and in 2013, Aon Hewitt confirmed TELUS' employee engagement as the best in the world for a company of its size and workforce mix. Mr. Entwistle will continue to be based at the company's headquarters in Vancouver.

"On behalf of the entire TELUS team, I want to thank Brian Canfield for his tremendous stewardship during his tenure as our Chair and indeed, throughout his outstanding career that has spanned six decades," said Mr. Entwistle. "Undoubtedly, Brian is one of the most prominent figures in the history of Canada's telecommunications industry and his contributions have helped to revolutionize the way our society communicates, conducts business and accesses information. It is clearly fitting that Brian has been inducted into the Business Laureates of British Columbia Hall of Fame and recognized with the Canadian Telecom Career Service Award from Canada's Telecommunications Hall of Fame."

Mr. Entwistle continued, "I am very pleased that our best in class succession planning process has resulted in Joe Natale being named as our next President and CEO and am excited to continue working with him in leading the progression of our national growth strategy. Joe is an exceptionally proven and highly capable leader. Clearly, Joe's excellent progression through several executive roles, culminating in his most recent capacity as our Chief Commercial Officer, has prepared him exceedingly well for this next step in his career. I look forward to continuing to work closely with Joe and the TELUS Board, including Dick Auchinleck as our Lead Director, as we strive to continuously create leading value for our investors, customers, team members and communities."

Joe Natale being appointed President and CEO

Joe Natale is being appointed President and CEO of TELUS. Mr. Natale joined TELUS in 2003 as an executive vice president and has progressed through increasingly expansive roles, including President of TELUS Business Solutions and President of TELUS Consumer Solutions. Since 2010, Mr. Natale has served as TELUS' Chief Commercial Officer, leading a team of over 25,000 responsible for providing consumers with innovative wireless voice and data services and home phone, internet and television, as well as businesses with leading-edge communications, data network and IT solutions. Mr. Natale will join TELUS' Board of Directors, reporting to the Executive Chair, Mr. Entwistle, and will continue to be based in Toronto. Mr. Natale also serves on the Board of Directors of Celestica Inc., Soulpepper Theatre and United Way Toronto.

"I am honoured to be appointed TELUS' next President and CEO," said Mr. Natale. "TELUS is a highly recognized global leader on multiple fronts that span from shareholder value creation through to caring for our communities. I look forward to working closely with Darren and the TELUS executive leadership team to further the progression of our national growth strategy and in particular, to continue advancing our top priority of always putting our customers first."

Dick Auchinleck being appointed Lead Director

Dick Auchinleck is being appointed Lead Director of TELUS. This appointment reflects TELUS' continuing commitment to adopt and uphold good governance practices. In this capacity, Mr. Auchinleck, who joined the TELUS Board in 2003, will provide leadership to foster the effectiveness of the Board in conjunction with Mr. Entwistle while ensuring that the Board functions independently of management as and when required. Mr. Auchinleck also serves as the Lead Director for ConocoPhillips, a responsibility he has held for several years.

2014 Information Circular

Dick Auchinleck, Darren Entwistle and Joe Natale are nominees for election as directors at our upcoming Annual General Meeting. Information on their nominations and these succession planning based leadership changes will be found in TELUS' 2014 Information Circular which will be made public on April 7, 2014. The Information Circular will also include the position profiles for the Executive Chair, the Lead Director and the President and CEO and information on all other nominees as directors.

Forward Looking Statements

This news release contains forward looking statements. Forward looking statements are not based on historical facts, but rather on current expectations, Company assumptions and projections about future events, and are therefore subject to risks and uncertainties which could cause actual amounts, results, performance or achievements to differ materially from the future results expressed or implied by the forward looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Company assumptions and risk factors are listed from time to time in TELUS' reports, public disclosure documents, including TELUS' Management's discussion and analysis and Annual Information Form, and in other filings with securities regulatory authorities in Canada and the United States. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.

About TELUS

TELUS (TSX:T)(NYSE:TU) is Canada's fastest-growing national telecommunications company, with $11.4 billion of annual revenue and 13.3 million customer connections, including 7.8 million wireless subscribers, 3.3 million wireline network access lines, 1.4 million Internet subscribers and 815,000 TELUS TV customers. Led since 2000 by President and CEO, Darren Entwistle, TELUS provides a wide range of communications products and services, including wireless, data, Internet protocol (IP), voice, television, entertainment and video.

In support of our philosophy to give where we live, TELUS, our team members and retirees have contributed more than $350 million to charitable and not-for-profit organizations and volunteered 5.4 million hours of service to local communities since 2000. TELUS was honoured to be named the most outstanding philanthropic corporation globally for 2010 by the Association of Fundraising Professionals, becoming the first Canadian company to receive this prestigious international recognition.

For more information about TELUS, please visit telus.com.

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