Rogers Communications (RCI) has hired former Industry Minister Navdeep Bains as its new chief corporate affairs officer following its $26-billion takeover of Shaw Communications.
Bains previously served as Prime Minister Justin Trudeau’s first minister of industry and left politics in 2021. He most recently worked as an investment banker at Canadian Imperial Bank of Commerce (CM).
The hiring of Bains comes as Rogers begins to integrate Shaw Communications following a contentious takeover that took more than two years to complete.
The purchase of Shaw was delayed by legal challenges and concerns that the deal could lessen competition in Canada’s telecommunications sector.
Current Industry Minister François-Philippe Champagne, who is Bain’s successor, approved the acquisition of Shaw earlier this April with conditions.
The federal government has required that Rogers create thousands of new jobs and spend $2.5 billion to expand 5G wireless coverage in Western Canada.
Rogers could face fines of up to $100 million if it fails to meet the federal government’s terms related to its takeover of Shaw.
In his new role at Rogers, Bains will have responsibility for several public policy files, including climate change and telecommunications access for low-income earners.
Canada’s Lobbying Act prevents any lobbying activity by a former designated public office holder, such as Bains, for five years.
Opposition politicians have criticized Bains hiring by Rogers, with New Democratic Party innovation critic Brian Masse calling it “incredibly concerning” and saying that it “looks like the Liberals are in the pockets of telecom giants…”
Rogers’ stock is down 11% in the past 12 months and trading at $65.12 per share.
