Telus Corp. has appointed Victor Dodig, former CEO of Canadian Imperial Bank of Commerce, as its new Chief Executive Officer, replacing Darren Entwistle after his long tenure. The move comes as the telecommunications giant faces mounting pressure from investors over its sluggish growth trajectory.

Dodig, who stepped down from CIBC in April 2024, brings extensive financial services experience to the role, though he lacks direct telecom industry background. This unexpected leadership change signals Telus's intent to pursue a fresh strategic direction amid challenges in Canada's competitive telecommunications market. The company has struggled to match the growth rates of its larger rivals Bell Canada and Rogers Communications.

The appointment represents a significant departure from Telus's traditional approach of promoting from within. Entwistle, who led the company for over two decades, transformed Telus from a regional provider into a national telecommunications powerhouse. His departure marks the end of an era for the company, which now faces the challenge of adapting to rapidly evolving technology demands while satisfying investor expectations for improved financial performance.