The oldest executive at BCE, Inc. is Ian Greenberg, 77, who is the Independent Director. [38][39] The company was subsequently renamed CTVglobemedia. Bell Communications today announced that it has appointed Mirko Bibic as its new president and chief executive officer following yesterday's retirement of former CEO, George Cope. [50], When BCE was created in 1983, Northern Telecom was transferred from a subsidiary of CRTC-regulated Bell Canada to a non-regulated subsidiary of BCE. Babe, Robert E. Telecommunications in Canada: Technology, Industry, and Government. [24] It was liquidated in 2009. As of March 2020, the current board of directors[60] are: Barry K. Allen, Mirko Bibic, Sophie Brochu, Robert E. Brown, David F. Denison, Robert P. Dexter, Ian Greenberg, Katherine Lee, Monique F. Leroux, Calin Rovinescu, Karen Sheriff, Robert C. Simmonds, and Paul R. Weiss. He has been President and Chief Executive Officer of Bell Canada since January 2020, Mr. Bibic leads the Bell group of companies with a strategy to deliver the best networks, drive service and content innovation, operate with agility and efficiency, and champion customer experience. In 2016, the operations of Bell Aliant were consolidated into those of Bell Canada.[36]. Mirko Bibic is 53, he's been the President, Chief Executive Officer, and Director of BCE since 2020. BCE's interest is held in partnership with Rogers Communications through the holding company 8047286 Canada Inc., 50% owned by Rogers and 50% by BCE holding company 7680147 Canada Inc., which is in turn 74.67% owned by BCE and 25.33% by BCE Master Trust Fund (investment fund of Bell's pension plan). The Bell Media segment includes conventional, specialty and pay television, digital media, radio broadcasting services, and out-of-home advertising services. When Jean Monty assumed the job of CEO in 1998, he pursued a convergence strategy, attempting to combine both content creation and distribution within BCE, and to take greater advantage of the emerging Internet market. [10], On April 28, BCE announced that CEO Michael Sabia was taking a 455% pay increase, his salary being raised from C$1.21 million a year to $6.71 million a year. BCE's new CEO, Mirko Bibic, gives his take on the costs of telecom services in Canada for consumers, foreign investment in the sector and his growth plans for the company. Later known as Bell Canada, its charter granted it the right to construct telephone lines alongside all public rights-of-way in Canada. [34], As of 2016, BCE Inc. has three primary divisions: Bell Canada, Bell Mobility, and Bell Media, comprising over 80% of BCE's revenue. Mirko Bibic is 53, he's been the President, Chief Executive Officer y Director of BCE since 2020. In 2009, BCE partnered with the Molson family in acquiring the Montreal Canadiens Hockey Club and the Bell Centre. This segment also buys and sells local telephone, long distance, data, and other services from or to resellers, and other carriers. (See BCE Inc v 1976 Debentureholders for further information). The pillar scores are Audit: 1; Board: 3; Shareholder Rights: 3; Compensation: 3. Nortel's share price collapsed with the dot-com crash of 2000 and combined with a mishandling of a subsequent accounting investigation, the company never fully recovered. BCE Inc., formerly Bell Canada Enterprises Inc., is a publicly traded Canadian holding company for Bell MTS Inc. and the Bell Canada group of companies, which includes various mass media assets under its subsidiary Bell Media Inc.[1] Founded through a corporate reorganization in 1983 when Bell Canada, Northern Telecom, and other related companies all became subsidiaries of Bell Canada Enterprises Inc., BCE Inc. is one of Canada's largest corporations. The Bell Media assets include two Canadian conventional television networks, CTV and CTV 2 along with dozens of specialty television channels including BNN Bloomberg, CTV Comedy Channel, CTV News Channel, CTV Drama Channel, CTV Sci-Fi Channel, MTV Canada, MTV2 Canada, Much, E!, TSN, and radio properties. Mirko Bibic is on the board of Canadian Wireless Telecommunications Association and President & Chief Executive Officer for The Bell Telephone Company of Canada, President, Chief Executive Officer & Director at BCE, Inc. and Member of Ontario Bar Association. [5] In 1988, Bell Canada Enterprises was renamed BCE Inc. [4][needs update]. Teleglobe sells voice and data business, CBC, September 19, 2002, BCE Inc. – Company Profile, Reference for Business, "BCE, Inc. (BCE) Company Profile & Facts - Yahoo Finance", Society of Composers, Authors and Music Publishers of Canada v Bell Canada,, Companies acquired by Bell Canada Enterprises, Information technology companies of Canada, Multinational companies headquartered in Canada, Telecommunications companies established in 1983, Companies listed on the New York Stock Exchange, Companies listed on the Toronto Stock Exchange, Pages with non-numeric formatnum arguments, Short description is different from Wikidata, Wikipedia articles in need of updating from May 2020, All Wikipedia articles in need of updating, Articles with unsourced statements from September 2018, Creative Commons Attribution-ShareAlike License, Glen LeBlanc (CFO & Vice Chair, Atlantic Canada). BCED was renamed Brookfield Development Inc. (now Brookfield Asset Management) followed in 1994 by the remaining 50%. The Bell Wireline segment offers data, including Internet access and Internet protocol television, local telephone, long distance, as well as other communications services and products to residential, small and medium-sized business, and large enterprise customers. Last updated: 1 October 2020 at 11:00am EST. [41] Bell Media's subsidiaries: Below is partial list of the holdings of the BCE conglomerate. Due to its stagnant share price, starting in April 2007, BCE was courted for acquisition by pension funds and private equity groups, including a consortium led by the Canada Pension Plan Investment Board (with Kohlberg Kravis Roberts as one of the participants), a consortium led by the Ontario Teachers' Pension Plan (OTPP), and a consortium that included Cerberus Capital Management. In the mid-1970s, Daon became known for expanding aggressively in the United States. [37] Several regional and local telecommunications companies (including Bell MTS, Northwestel, Télébec, NorthernTel, and Dryden Municipal Telephone Service) are direct subsidiaries of BCE rather than under Bell Canada. Mirko Bibic serves as President, Chief Executive Officer, Director of the Company. CA$7.96 billion (FY19) CA$7.38 billion (FY18) Net income. In 1998, BCE raised its stake to 100% at a cost of $158 million for the 42% of shares it did not already own. The oldest executive at BCE, Inc. is Ian Greenberg, 77, who is the Independent Director. In 2010 BCE bought out the other owners, acquiring CTV's specialty television, digital media, conventional TV and radio broadcasting platforms. Mirko Bibic biography. He holds a Bachelor of Commerce degree from McGill University and a Law degree from the University of Toronto. [9] BCE also spun off operating units that it did not consider to be core to its business, including Emergis in 2004, and Bell Globemedia and Telesat Canada in 2006. University of Toronto Press, 1990. Mirko Bibic serves as President, Chief Executive Officer, Director of the Company. Rizwan Jamal President. Page 30. Under a variety of leaders, BCE has embarked on a series of diversifications, consolidations, and corporate strategies. [42], In 2011, together with Rogers Communications and Kilmer Sports (holding company of Larry Tanenbaum), BCE acquired Maple Leaf Sports & Entertainment, owner of the Toronto Maple Leafs professional hockey team. Corporate governance scores are provided to Yahoo Finance by Institutional Shareholder Services (ISS). Mr. Bibic joined Bell in 2004 as Senior Vice President, Regulatory and was named Canadian General Counsel of the Year in 2017. Within a few years, it became the first Canadian company to report CAD$1 billion in profits. By 1981, the company had assets worth more than $2 billion. In 1983, all of the Bell Canada group of companies (also known as the "Bell Group") were placed under a new holding company, Bell Canada Enterprises Inc. (BCE). BCE Inc., a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. [46], In July 1990, BCE Inc. sold 50% ownership in BCE Development to Carena Developments Ltd. (controlled by the Toronto branch of the Bronfman family). The company combined CTV with its holdings in The Globe and Mail newspaper to form Bell Globemedia, with BCE owning 70% and Thomson Newspapers and Woodbridge Co. Ltd. the remainder. [44], BCE Development was founded as Daon Development by Vancouver-based developer Jack Poole in 1964. The $575 million purchase was termed "the richest deal in NHL history"; BCE's share was reported to be $40 million. As a consequence of the stock transaction used to purchase Bay Networks, BCE's holding was diluted to a minority stake. He has also served as Executive Vice President, Corporate Development and as Chief Legal and Regulatory Officer. Mirko Bibic is Chief Operating Officer at The Bell Telephone Co. of Canada. [35] Bell Aliant was a subsidiary company formed in 1999 from the merger of the four BCE-controlled telephone companies serving Canada's Atlantic provinces. Claire Gillies President, Bell Mobility. As part of this restructuring, Bell Aliant offered to take Bell Nordiq private, while remaining separate from the new Bell trust. [12] Due to announced changes in taxation law by the Canadian federal government, on December 12, 2006, BCE announced it would not proceed with its planned conversion to an income trust. Bell also obtained a 15% interest in The Globe and Mail, CTVglobemedia's other major asset, with the remaining 85% owned by the Thomson family. The Bell Media segment provides conventional TV, specialty TV, pay TV, and streaming services; and digital media, radio broadcasting, out-of-home advertising services. [40] In August 2015, BCE sold its remaining 15% stake in the Globe and Mail to Woodbridge. The Bell Wireline segment provides data, including Internet access and Internet protocol television; and local telephone, long distance, and other communications services and products. As a result, the purchase was cancelled. He holds a Bachelor of Commerce degree from McGill University and a Law degree from the University of Toronto. Bell Media is the BCE broadcast and media subsidiary. [53] When Memotec purchased international telecommunications carrier Teleglobe Canada from the Canadian government in 1987, the company was renamed Teleglobe Inc. When interest rates soared, however, Daon was caught overextended, could not meet its debt payments, and was forced into a major restructuring with its bankers. BCE executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. [26], On November 26, 2008, BCE announced that KPMG had informed BCE that it would not be able to issue a statement on the solvency of the company after its privatization, one of the required conditions of the buyout.