BCE Inc. has announced that it will reorganize its operations into four main operating businesses. Canada's largest communications company said the restructuring is designed to bring "greater focus to...
January 1, 2001
BCE Inc. has announced that it will reorganize its operations into four main operating businesses. Canada’s largest communications company said the restructuring is designed to bring “greater focus to the company” and deliver execution of its strategy.
The company will now have four operating businesses: Bell Canada, which will focus on Canadian connectivity; Teleglobe Inc., the international long-distance wholesaler, which will focus on global connectivity; BCE’s new media company, which will oversee content; and electronic-commerce company, BCE Emergis, which will be responsible for commerce.
All other investments will be combined in a new group called BCE Ventures. This group will include wholly-owned Telesat Canada, Bimcor and BCE Capital, a 74 -per-cent owned Bell Canada International, and a 46-per-cent owned CGI Group Inc.
Excel Communications (wholly-owned) and Look Communications (25-per-cent owned) — both acquired through the purchase of Teleglobe — will also be part of BCE Ventures.
BCE announced a number of executive appointments as part of the new restructuring plan. Bill Anderson, currently CFO at BCE, will become president of the new Ventures unit. Michael Sabia, who has been executive VP of BCE, will now become president. And John Sheridan, formerly vice-chair of markets at Bell Canada, has been appointed president of that company.