Shaw denies rudeness sank CEO early

The president of Calgary-based Shaw Communications denied Friday that CEO Jim Shaw's early resignation this week came about because of belligerent behaviour he is reported to have displayed before investors at a lunch meeting a week earlier.

"What's been said is all rumours," Peter Bissonnette told The Canadian Press, responding to reports in the Globe and Mail and National Post newspapers.

In October, the media and internet company announced that Shaw would step down in January, handing over the role to his younger brother, Brad.

But lateWednesday, the firm issued a release saying Jim Shaw had resigned effective the same day.

Two sources who attended the Vancouver lunch are quoted in the Globe as saying Jim Shaw responded to investors' questions with overly harsh criticism and asked inappropriate questions of portfolio managers.

The report quoted an unidentified source as sayingShaw called one fund manager a "lightweight" and "pathetic" for holding a small amount of company stock, a source told the newspaper.

The outgoing CEO also reportedly asked investors how much Shaw stock they owned, and whether they hold shares in rival Telus Corp.

The Globe reported that an organizer of the lunch said in an email to clients that it is "fair to say" the transition to Brad Shaw is happening at the right time.

"Jim's behaviour was extremely unprofessional, and for those who witnessed it first-hand, I do apologize," the newspaper quoted the email as saying.

Bissonnette said Shaw has always been known to be "a little feisty ... and they were feisty back."

"All I can say is I worked with Jim for 21 years and he's a fabulous guy to work for."

Bissonnette said Brad Shaw is taking over early so the company can get on with integrating the broadcasting assets it bought from Canwest Global by far the biggest acquisition in the company's history.