Ousted Rogers CEO Joe Natale named to board of mortgage lender Home Capital

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The former CEO of Rogers Communications Inc., who lost a power struggle at the telecommunications giant last year, has been named to join the board of alternative mortgage lender Home Capital Group.

Natale’s name is among a list of three people who have been proposed to join the leadership group of the mortgage lender whose business has seen ups and downs since she found herself at the center of a controversy over loan documentation in 2017.

Like many companies, the company’s shares were hit hard early in the pandemic, before bouncing back. At around $35 per share, the company is worth about the same today as it was in February 2020.

Natale, along with securities attorneys David Court and Edward Waitzer, will join the company’s board pending the results of a shareholder vote on the matter.

Natale was a longtime executive at Telus before being courted for the top job at Rogers in 2017. He then found himself the target of a coup led by the company’s president and scion Edward Rogers, who led an ugly but ultimately successful campaign to remove him last year.

After suspending its dividend during the pandemic, Home Capital recently reinstated its payout to shareholders and the company says it is focused on long-term growth and profitability.

“I am happy to participate in the next phase of [the company’s] development,” Natale said in a statement announcing the news.

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