Manitoba Telecom Services Inc. CEO Pierre Blouin To Retire in 2014
(Canada Newswire Via Acquire Media NewsEdge)
WINNIPEG, Aug. 12, 2014 /CNW/ - (TSX: MBT) Manitoba Telecom Services
Inc. ("MTS Allstream" or the "Company"), announced today that Pierre
Blouin plans to retire as the Company's Chief Executive Officer later
this year. The Company's Board of Directors has commenced a CEO search
and expects to announce Mr. Blouin's successor in advance of Mr.
Blouin's retirement date in order to ensure a seamless and orderly
"Pierre Blouin has done an exemplary job as CEO of MTS Allstream during
a decade marked by significant change and intense competition across
both the MTS and Allstream businesses," said David Leith, Board Chair.
"Under Pierre's leadership, the company transformed Allstream from a
pure legacy telecom provider into a focused and successful national IP
provider with a significantly reduced cost structure and
industry-leading customer satisfaction levels. At MTS, Pierre and the
management team have consistently delivered some of the best operating
metrics in North America, including the highest market share and profit
margins for an incumbent telecom provider despite operating in Canada's
most competitive telecom market. He has also successfully addressed the
company's legacy pension funding issues, maintained a strong balance
sheet and put in place a highly capable management team to lead the
company forward. We appreciate Pierre's contributions and his many
years of service. He has positioned the company for continued success,
and we wish him all the best in his future pursuits."
Added Mr. Blouin: "I am very proud of what we have accomplished over the
past decade, and felt that this was the right time to transition to new
leadership. I am grateful for the support and dedication of our Board,
management team and MTS Allstream's outstanding employees, and I leave
with full confidence in the company's future success. I remain fully
engaged in the business and will work to ensure a seamless leadership
Mr. Blouin bolstered MTS Allstream's foundations by expanding MTS's
fibre-to-the-home network in 14 communities in Manitoba, growing
Allstream's national network of connected buildings to over 3,000,
acquiring EPIC Information Solutions, and investing over $50 million to
build a unique and state-of-the-art commercial data centre in Winnipeg,
which enabled a new and lucrative portfolio of IT services for MTS
Allstream for years to come.
Over the past years, the Board has followed strong governance processes
to be prepared for CEO succession, and is ready to execute on these
plans with the assistance of leading global executive recruiters. Both
internal and external candidates will be considered in this search
process. Mr. Blouin has agreed to remain with the Company until such
time as the successful candidate has been appointed and to assist in
the transition process.
About Manitoba Telecom Services Inc. (MTS Allstream)
MTS Allstream is one of Canada's leading national communication
solutions companies, providing innovative communications for the way
Canadians live and work today. The Company has more than 100 years of
experience, with approximately 5,000 employees across Canada. MTS
Allstream's business is dynamic and consists of two operating
divisions. In Manitoba, MTS is the leading full-service
telecommunications provider for residential and business customers.
MTS's suite of services includes the latest in wireless technology,
broadband services, IPTV, voice services, home security, and an
extensive range of business solutions. Across Canada, Allstream is a
leader in IP communications and is the only national provider that
focuses exclusively on the business telecommunications market. MTS
Allstream has nearly two million customer connections spanning business
customers across Canada and residential consumers throughout the
province of Manitoba. The Company's extensive national fibre optic
network spans more than 30,000 kilometres. MTS Allstream has spent 13
consecutive years on the Jantzi Social Index for leadership in social
responsibility and is the recipient of the 2011 Governance Gavel Award
from the Canadian Coalition for Good Governance, recognizing clear and
effective public disclosure and leading governance practices.
MTS Allstream's common shares are listed on the TSX (trading symbol:
MBT). Customers, stakeholders and investors who want to learn more
about MTS Allstream are encouraged to visit: http://www.mtsallstream.com.
For more information about MTS's products and services, please visit http://www.mts.ca. For more information about Allstream's products and services, please
Forward-looking Statements Disclaimer
This news release includes forward-looking statements and information
(collectively, the "statements") about the Company's leadership,
including the process to replace the Company's CEO, and the Company's
corporate direction, business opportunities, operations, financial
objectives and future financial results and performance that are
subject to risks, uncertainties and assumptions. As a consequence,
actual results in the future may differ materially from any conclusion,
forecast or projection in such forward-looking statements. Therefore,
forward-looking statements should be considered carefully and undue
reliance should not be placed on them. Examples of statements that
constitute forward-looking information may be identified by words such
as "believe", "expect", "project", "should", "anticipate", "could",
"target", "forecast", "intend", "plan", "outlook", "see", "set",
"pending", and other similar terms.
Factors that could cause anticipated opportunities and actual results to
differ materially include, but are not limited to, matters identified
in the "Material assumptions" section and the "Risks and uncertainties"
section of the Company's 2013 Annual MD&A and 2013 Annual Information
Form, both of which are available on SEDAR at http://www.sedar.com.
Please note that forward-looking statements reflect Management's
expectations as at the date hereof. The Company disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE MTS Allstream
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