TELUS CEO decides to receive salary in shares indefinitely

Rhea-AI Summary

Telus CEO, Darren Entwistle, has decided to receive his salary in shares indefinitely, reflecting his confidence in the company's financial health, long-term strategy, and the team's skill. This decision comes after Telus reported industry-leading customer additions and solid financial results. Entwistle's move demonstrates his alignment with shareholders and past practice of investing significantly in Telus shares.

Positive

• Reflects CEO's confidence in Telus' financial health, strategy, and team

• Shows alignment with shareholders by taking salary in shares

• Past practice of investing significantly in Telus shares

• Demonstrates commitment to the company's long-term success

Negative

• None.

This decision is reflective of Darren's confidence in the financial health of TELUS, the consistent and long-term strategy the company is delivering and the skill of the TELUS team

VANCOUVER, BC, May 9, 2024 /PRNewswire/ - On the back of TELUS reporting industry-leading customer additions and solid financial results, TELUS President and CEO, Darren Entwistle, announced today that he will be taking his entire salary in shares for the foreseeable future.

Darren's decision to forego his cash salary in favour of shares demonstrates confidence in the financial health of the TELUS organization, the consistent and long-term strategy the company is delivering and the skill of the TELUS team. Furthermore, this builds upon the six years, from 2010 through 2015, that Darren previously took the entirety of his salary in shares.

Investing significantly in TELUS shares is consistent with Darren's past practice of aligning his interests with those of TELUS' shareholders. In 2023, Darren purchased 395,843 common shares and held a total of 799,209 TELUS common shares at the end of 2023, or approximately 12 times his base salary in share ownership.

About TELUS

TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications technology company with more than $20 billion in annual revenue and over 19 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. Our social purpose is to leverage our global-leading technology and compassion to drive social change and enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. The numerous, sustained accolades TELUS has earned over the years from independent, industry-leading network insight firms showcase the strength and speed of TELUS' global-leading networks, reinforcing our commitment to provide Canadians with access to superior technology that connects us to the people, resources and information that make our lives better.

Operating in 32 countries around the world, TELUS International (TSX and NYSE: TIXT) is a leading digital customer experience innovator that designs, builds, and delivers next-generation solutions, including AI and content moderation, for global and disruptive brands across strategic industry verticals, including tech and games, communications and media, eCommerce and fintech, banking, financial services and insurance, healthcare, and others.

TELUS Health is a global healthcare leader, which provides employee and family primary and preventive healthcare and wellbeing solutions. Our TELUS team, along with our 100,000 health professionals, are leveraging the combination of TELUS' strong digital and data analytics capabilities with our unsurpassed client service to dramatically improve remedial, preventive and mental health outcomes covering nearly 72 million lives, and growing, around the world. As the largest provider of digital solutions and digital insights of its kind, TELUS Agriculture & Consumer Goods enables efficient and sustainable production from seed to store, helping improve the safety and quality of food and other goods in a way that is traceable to end consumers.

Driven by our determination and vision to connect all citizens for good, our deeply meaningful and enduring philosophy to give where we live has inspired TELUS and our team to contribute $1.7 billion, including 2.2 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. Together, let's make the future friendly.

For more information about TELUS, please visit telus.com, follow us at @TELUSNews on X and @Darren_Entwistle on Instagram.

For more information, please contact:

Jacinthe Beaulieu
TELUS Media Relations
Jacinthe.beaulieu@telus.com

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SOURCE TELUS Communications Inc.

FAQ

Why did Telus CEO decide to receive salary in shares?

Telus CEO, Darren Entwistle, decided to receive his salary in shares indefinitely to show confidence in the company's financial health, long-term strategy, and team's skill.

What does Telus CEO's decision reflect?

Telus CEO's decision reflects his alignment with shareholders and his past practice of investing significantly in Telus shares.

How many common shares did Darren Entwistle purchase in 2023?

In 2023, Darren Entwistle purchased 395,843 common shares and held a total of 799,209 Telus common shares.

Why is Telus CEO's decision significant for shareholders?

Telus CEO's decision is significant for shareholders as it demonstrates his commitment to the company's long-term success and aligning his interests with theirs.