Ousted Rogers CEO Joe Natale nominated to join board at mortgage lender Home Capital

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

Natale's name is one in a list of three that have been put forward to join the leadership group of the mortgage lender whose business has been on an up and down ride since finding itself at the centre of some controversy involving loan documentation in 2017.

Like many firms, the company's shares were hit hard in the early days of the pandemic, before rebounding. At roughly $35 a share, the company is worth about the same today as it was in February 2020.

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

Natale was a long time executive at Telus before being wooed to take the top job at Rogers in 2017. He then found himself the target of a palace coup led by company chair and scion Edward Rogers, who led an ugly but ultimately successful campaign to remove him last year.

After pausing its dividend during the pandemic, Home Capital recently reinstated its payout to shareholders and the company says it is turning its focus toward long-term growth and profitability

"I am pleased to take part in the next phase of [the company's] development," Natale said in a release announcing the news.