BCE names Bibic as successful Cope as CEO of 5G Push

BCE names Bibic as successful Cope as CEO of 5G Push


(Bloomberg) - When George Cope retired in January, the ECB appointed Mirko Bibic to take over as CEO of Canada's largest telecommunications company.

"The time is right for Mirko to take our company to the next level," Cope said in a statement on Friday. "From the beginning, it has been at the forefront and at the center of the successful implementation of Bell's broadband leadership strategy."

Cope, 57, has been working at the ECB for 14 years and will retire on January 5.

Bibic, 51, is currently the director of operations for the ECB, based in Montreal. Led a broad range of residential and consumer programs, including the introduction of Bell Wireless Home Internet in small cities and rural communities, Bell's accelerated prepaid technology, Bell Media launched the new Crave transmission service and future strategic planning of Bell 5G.

Under Coope's leadership, BCE expanded its wireless business and executed more than $ 15 billion ($ 11.5 billion) in investments and acquisitions, including brands such as Bell Aliant, Virgin Mobile Canada, Manitoba Telecom Services and Maple Leaf Sports & Entertainment... NBA champion Toronto Raptors.

The share price of the telecommunications giant fell 0.2% to $ 59.60 at 10:27 am in Toronto. Since Cope became president and CEO on July 2, 2008, the BCE has returned a dividend of 193% to shareholders, including dividends, raising its market value to C $ 53.6 billion. In contrast, rival Telus Corp. was 271%, Rogers Communications Inc. was 169% and the S & P / TSX composite index was 61%.

According to the statement, as of the first quarter, the company achieved adjusted Ebitda growth for 54 consecutive quarters.

This movement surprised some analysts. "Some people may think that Mr. Bibic can replace Mr. Cope in 2020 or 2021, but we believe that most people think that Mr. Cope will lead the company in the 5G era of the next two years. three years, the analysis of the National Bank of Canada Adam Shine said in a report on Friday.

Shine added that Bibic is unlikely to change the focus and strategy of the ECB.

The government of Justin Trudeau continues to conduct a 5G security review, considering whether to ban Huawei Technologies Co., Ltd. from entering the next generation network. If Trudeau decides to freeze Huawei, then Bell Canada and BCE Telus are the most popular Canadian television programs. Cope told BNN Bloomberg TV that the ECB will comply with government regulations, including any equipment from China Titan.

The executive added that the live content of sporting events will be the future of sports. "Video consumption is absolutely explosive," he said, adding that the company is ready to push it.