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 transition.
"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 transition."
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.
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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