The Globe and Mail reports in its Friday edition that on Thursday, Telus stunned Bay Street with the news that long-time chief executive officer Darren Entwistle would be leaving. The Globe's Tim Kiladze writes that his replacement is Victor Dodig, the former CEO of CIBC who has been on Telus's board since 2022. Mr. Entwistle has been in charge since 2000 and Telus shares are in trouble, trading at 2014 prices. It was time for change. As for Mr. Dodig, may not be from the telco world, but he is not a wild-card outsider who might spook investors. Yet none of that helps to answer why or how it came to this. Of the many things boards are responsible for, nothing matters more than succession planning. Picking Mr. Dodig who, by coincidence or not, also worked with Telus board chair John Manley when the latter chaired CIBC's board, brings back all the whispers about Canada's old boys club. Mr. Manley said Thursday he has been talking to Mr. Entwistle about succession since 2012. Sources describe him as something of a control freak. Telus shares are now down 45 per cent from their 2022 peak. Investors are worried about the company's debt level, while expansion opportunities, such as Telus Health, have not panned out.