Telus 2010 Annual Report Download - page 13

TELUS 2010 annual report . 9
My personal goals are that TELUS, over the next three years,
has the potential to generate low double-digit annualized growth
in EPS and even greater free cash flow growth, excluding any
one-time items such as future spectrum purchases. This would
be consistent and supportive of TELUS’ dividend growth model,
to which I remain strongly committed. Accordingly, I have decided
once again to take the entirety of my 2011 annual cash salary
compensation in TELUS shares.
The TELUS team is positioned to successfully progress
our company through 2011 and beyond with the courage to
innovate as a core value. We plan to continue generating value
for our shareholders, debt holders, clients, team members
and the communities we serve.
Thank you for your continued support.
Darren Entwistle
Member of the TELUS Team
February 24, 2011
2011 corporate priorities
Every year, we set corporate priorities to help our team advance our national growth strategy,
which are to:
.Deliver on TELUS’ future friendly brand promise to clients
.Optimize TELUS’ leading wireless and wireline broadband networks
.Drive market leadership position in small and medium business and healthcare markets
.Continue to improve TELUS’ operational efficiency to effectively compete and fund future growth
. Raise TELUS team engagement to the next level and continue to drive the philosophy of
“our business, our customers, our community, our team, my responsibility.”
with anti-competitive behaviours regarding content and ensure
that consumers continue to be able to access content on reason-
able terms regardless of the platform or carrier they choose.
We are encouraged by the precedent-setting decision of the
CRTC regarding Videotron’s programming exclusivity, as well as
the actions taken by the CRTC relating to Shaw Communications’
acquisition of Canwest Global and measures taken in the U.S.
relating to Comcast’s acquisition of NBC Universal. Investors
should also monitor Industry Canada’s consultations regarding
the rules for the spectrum auctions expected in 2012.
Our collective agreement with the Telecommunications Workers
Union for 11,000 team members across Canada expired in
November 2010. Negotiations are well underway and, although
there can be no assurance that a labour disruption will not occur,
we are optimistic that a mutually beneficial agreement will be
reached in the coming months that is reflective of the competitive
and economic conditions in which we operate.
To help us address these challenges and opportunities and
respond effectively in this highly competitive market, we have set
five corporate priorities for 2011, which are shown in the sidebar.
The courage
to innovate
This is an exciting time for our company as we are well
positioned to realize the competitive advantages of our
strategic growth investments. Due to our focus on innovation
and operational execution, we are in a position to monetize
the benefits being increasingly delivered by our proven strategy,
our communications expertise and the strength of our team.
As we continue our journey and build on the momentum
created in 2010, I am confident that TELUS has many oppor-
tunities in the years ahead to generate sustainable value.