Telus names CEO as Entwistle embraces retirement

• Former banker Victor Dodig is to become president and CEO at Telus
• Dodig replaces Darren Entwistle, who is retiring after 26 years in charge of the Canadian telco
• Telus reports fourth-quarter results, including strong subscriber gains

Telus has named Victor Dodig as its new president and CEO, replacing Darren Entwistle, who will retire after 26 years in charge at the Canadian operator.

Dodig joins Telus having most recently served as president and CEO of the Canadian Imperial Bank of Commerce (CIBC) from 2014 to 2025.

While at CIBC, Dodig overhauled the bank’s approach to customer services and technology. Prior to joining the banking sector, Dodig – who has sat on the Telus board of directors since 2022 – was a consultant with McKinsey and then managing director at Merril Lynch across the UK, US and Canada.

In addition to his role at CIBC, Dodig served as board chair of the Business Council of Canada and is a trustee of the Brookings Institution.

Dodig said: “Telus has built a remarkable foundation with leading network infrastructure, a strong portfolio of growth businesses and a distinctive culture, rooted in putting customers and communities first that sets the company apart globally. Telus also has an outstanding track record of fostering strong partnerships with indigenous communities, customers and stakeholders. I look forward to working together with the talented leadership team and team members worldwide at a company whose values align profoundly with my own.”

He replaces long-time CEO Entwistle who, after almost three decades in charge of Telus, will retire on 30 June 2026. Entwistle first joined Telus in 2000, having previously served as an executive at Cable & Wireless in the UK. He has overseen significant changes at the Canadian telco, including the CAN$6.6bn (US$4.9bn) acquisition of Clearnet in 2020.

Entwistle almost left the telco in 2014 when Telus appointed Joe Natale as CEO, with Entwistle remaining as chair, only for his replacement to step down after just a year in charge. The reason cited at the time was Natale’s reluctance to move to Western Canada.

“On behalf of the board, I want to express our profound gratitude to Darren for his transformational leadership of Telus over the past 26 years,” said John Manley, chair of the Telus board of directors.

“Darren’s dedication to building world-leading broadband and AI infrastructure, expanding our business portfolio, creating immense value in the Telus brand and fostering a culture of excellence has grown Telus from a regional Canadian telecommunications provider to a leading global communications technology company operating in more than 45 countries and generating over $20bn in annual revenue.”

Entwistle hands the reins to Dodig coming off the back of some strong customer numbers. The operator noted in its fourth-quarter earnings announcement that its combined mobile and fixed customer base grew by 377,000 connections in the fourth quarter. As a result, Telus reported its fourth consecutive full year of adding more than 1 million new customer connections (1,081,000 net additions in 2025).

Consolidated fourth-quarter operating revenues dipped slightly to C$5.3bn from C$5.4bn (US$3.9bn from US$3.98bn) a year earlier, a dip that Telus attributed to lower mobile equipment revenues. 

It saw its biggest growth in its health services division – 13% revenue growth to CAN$537m (US$396m) from a customer base of 161.2 million lines covered – and reported gains in mobile residential internet, security and automation, as well as Telus Digital, which in October last year became a fully owned subsidiary of Telus following a privatisation process.

Entwistle stated: “Following the privatisation of Telus Digital, we are accelerating our enterprise-wide AI and data capabilities, enabling strategic cross-promotion of our industry-leading AI product set throughout our entire business portfolio, while enhancing Telus Digital’s capacity to drive growth opportunities across its external client base. This positions Telus for differentiated growth, with our AI-enabling capabilities generating approximately CAN$800m in revenue in 2025 [and] with a target of circa CAN$2bn in 2028 across Telus Digital and Telus Business Solutions, including contributions from our sovereign AI factories. In parallel, the integration of Telus Digital is expected to unlock meaningful operational efficiencies, delivering annual cash synergies of approximately CAN$150m to CAN$200m, with approximately CAN$150m being realised within 2026.” 

Entwistle added: “Our strong financial and operational performance are underpinned by our world-class networks, data-centric growth assets and customer experience leadership. This positions us well to deliver on our 2026 targets announced today, including consolidated service revenues and adjusted EBITDA growth of up to 4%  and 4%, respectively.”

The full financial results can be found here.

- James Pearce, Contributing Editor, TelecomTV