BitMine stock falls after CEO change and board appointments
MONTREAL - BCE Inc. (TSX:BCE) (NYSE:BCE) announced Thursday the appointment of Steve Weed to its board of directors, adding telecommunications industry experience to the Canadian communications company’s leadership team. The $20.9 billion market cap telecom giant currently trades at a P/E ratio of 67.4, according to InvestingPro data.
Weed, the former Executive Chairman of Ziply Fiber, currently serves as Chief Executive Officer of WaveDivision Capital, an investment firm focused on expanding broadband infrastructure across the United States and Canada. He previously founded Wave Broadband, where he served as CEO from 2002 to 2018.
Gordon Nixon, Chair of BCE and Bell Canada, said in a press release statement that Weed’s industry experience "will strongly benefit BCE shareholders."
In addition to his role at WaveDivision Capital, Weed currently sits on the board of Greenlight Networks and serves as an advisory board member for Consolidated Communications.
Mirko Bibic, President and CEO of BCE and Bell Canada, noted that Weed’s "distinguished career in the broadband industry" and experience "building the leading fibre Internet provider in the Pacific Northwest of the United States" would support Bell’s growth initiatives.
BCE describes itself as Canada’s largest communications company based on total revenue and customer connections, with operations spanning advanced fibre and wireless networks, enterprise services and digital media. InvestingPro identifies BCE as a prominent player in the Diversified Telecommunication Services industry, with a notable 5.64% dividend yield. The company has maintained dividend payments for 55 consecutive years and appears undervalued according to InvestingPro’s Fair Value assessment.
The appointment comes as telecommunications companies across North America continue expanding their fiber infrastructure to meet growing demand for high-speed internet services. BCE’s overall financial health score is rated as "FAIR" by InvestingPro, which offers 10+ additional ProTips and a comprehensive Pro Research Report on BCE among 1,400+ top stocks with detailed analysis for smarter investment decisions.
In other recent news, BCE Inc. reported its second-quarter 2025 earnings, revealing an adjusted earnings per share (EPS) of $0.63, which fell short of the forecasted $0.71, marking an 11.27% negative surprise. However, the company achieved a revenue of $6.09 billion, surpassing expectations of $5.95 billion. Additionally, BCE’s board announced that Gordon Nixon will step down as Chair, and they plan to nominate current Director Louis Vachon as the new Chair, pending his re-election by shareholders.
In a related development, JPMorgan upgraded BCE Inc. from Underweight to Neutral, raising its price target to C$33.00 from C$29.00. This upgrade follows BCE’s recent acquisition and improved growth in mobile phone subscriber numbers during the second quarter of 2025. The company showed encouraging subscriber growth due to better churn rates, although it experienced softer underlying mobile phone average revenue per user (ARPU) excluding a one-time G7 benefit. These developments reflect a mix of challenges and opportunities for BCE Inc. as it navigates the current market environment.
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