Toronto’s former mayor is rejoining Rogers’ board of directors, according to The Globe and Mail.
It’s not a new role for John Tory, who previously joined the board in 2010. In 2014, Toronto elected Tory mayor, replacing the late Rob Ford. The new role led Tory to step down, but he continued to be part of the Rogers Control Trust advisory committee. The trust holds voting control of Rogers Communications.
Tory stepped down as mayor in 2022 after he had an affair with a former staffer.
The Globe reports Tory is one of three people up for candidacy at the organization’s annual shareholder meeting on April 24th. Recent vacancies include two of the Rogers sisters departing the board as part of a settlement associated with a long-standing family feud.
Tory holds $15 million in stock, according to disclosed holdings. This is an increase from the $5.5 million he held in 2014. The publication notes Tory didn’t have to disclose his holdings after he stepped down. The growth is associated with the rising cost of Rogers’ share prices and an increase in personal holdings related to a “family investment.”
In 2023, each of Rogers’ directors received a $110,000 retainer, along with $120,000 in stock. They also got $5,500 for each committee they were a part of.
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Source: The Globe and Mail
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