Canada’s Rogers Communications saw its adjusted net income grow by 30 per cent in the fourth quarter of 2012 to CAD455 million ($455 million), thanks to revenue growth as well as cost reduction.

Rogers also announced that Nadir Mohamed, its CEO, plans to step down in January 2014, nearly five years after taking the helm. The company will appoint a search firm to find a replacement, with both domestic and international candidates under consideration.

Rogers, which is Canada’s leading mobile operator but is also in other businesses such as cable television, saw an increase in profits from its wireless business. Adjusted operating profit grew by three per cent to CAD687 million in Q4, 2012.

The mobile unit’s operating revenue grew by five per cent to CAD1.92 billion, contributing nearly 60 per cent of Rogers’ total.

Total operating revenue was up three per cent to CAD3.26 billion.

However, the operator disappointed analysts with its mobile subscriber gains. It made 58,000 net additions to its contract base, which was lower than the 64,000 forecast, according to Bloomberg.

The figure also lagged its rivals markedly. BCE, the country’s second largest operator, added 144,000 contract subscribers and Telus, the country’s number three, had 128,000 gains, both comfortably ahead of their larger rival.

The potential candidates to replace Mohamed will not include Ed nor Melinda Rogers, the children of the company’s founder. Neither have put themselves forward for the top job.

Mohamed has been in the communications business for more than 30 years and joined Rogers in 2000.