Shakeup at BCE as Monty quits, Teleglobe hung out to dry
Jean Monty surprised most people last week when he stepped down as chair/CEO of BCE Inc. following the release of Q1 results. Michael Sabia, president and COO, succeeds him as CEO, and Richard J. Currie as non-executive chairman.
The results were generally good for Bell Canada, which saw revenues increase four per cent, due to growth in data, wireless, and satellite TV. Local and access were up three percent, while LD dropped by seven per cent. It was disclosed that Bell will implement a $5/month increase over the coming months for existing Sympatico High Speed Edition Internet customers currently paying $39.95/month in order to bring rates in line for all high-speed customers. At the same time, a bandwidth charge will also apply for usage over prescribed bandwidth levels.
BCE also announced it was halting long-term funding of Teleglobe. All BCE-affiliated members have resigned from the Teleglobe board. More details: