CEO of Cogeco’s U.S. operations leaves to pursue unspecified personal interests

CEO of Cogeco’s U.S. operations leaves to pursue unspecified personal interests
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MONTREAL — Cogeco Communications Inc. says the head of its main U.S. subsidiary, Atlantic Broadband, is leaving after a brief transition to pursue unspecified personal interests.

Richard Shea has held senior positions at Atlantic Broadband since its creation in 2003 and has been its president and chief executive officer since 2015.

Atlantic Broadband was acquired by Cogeco in 2012 as the Montreal-based cable, internet and communications company’s entry into the United States.

According to Cogeco’s most recent financial report, its American broadband services generated 44 per cent of the company’s overall revenue in the three months ended Feb. 28 and had a segment profit of $234.4 million.

Under Shea’s leadership, Atlantic Broadband expanded its base through acquisitions and currently operates in 11 eastern states from Maine to Florida.

Cogeco says Atlantic Broadband’s chief financial officer, Patrick Bratton, will be interim CEO during its search for a permanent successor to Shea.

Companies in this story: (TSX:CCA)

The Canadian Press

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