Jim Shaw Jr. is making way for brother Bradley Shaw to succeed him as CEO of Western Canadian cable giant Shaw Communications, effective January 13, 2011. Jim Shaw Jr. will continue as executive chairman, but will hand over day-to-day control of the company just as it’s on the verge of acquiring Canwest Global Communications’ TV assets.
‘Over my 12 years as CEO, I have led a first class team that delivered an unprecedented period of growth and expansion for Shaw, culminating with the $2 billion acquisition of the Canwest/Global TV and specialty channel assets,’ Jim Shaw Jr. said in a statement. ‘It is now Brad’s time to lead Shaw Communications into the future,’ he added.
During recent CRTC hearings to consider the Shaw/Canwest Global takeover, Brad Shaw led the presentation to regulators, and in recent years has played a higher profile role in running the company. The executive change came as Shaw Communications reported earnings of $121.5 million for its fourth quarter, just down from a profit of $124 million in 2009, on revenue up 8% to $939 million.
From Playback Daily