CALGARY -- Jim Shaw, the former chief executive of Shaw Communications Inc., died on Wednesday at the age of 60.

The Calgary-based telecommunications company said in a statement that Shaw, who was still vice-chairman of the board, passed away peacefully following a brief illness.

He joined Shaw in 1982, working as a construction worker and cable installer, and later served as the company's second CEO from 1998 to 2010.

Shaw Communications says during his tenure as CEO the company's revenue grew from $646 million in 1998 to $3.7 billion in 2010.

Shareholders were richly rewarded by the revenue growth under Shaw’s watch, with shares rising 177.48 per cent, easily outpacing the overall TSX Composite Index.

Shaw also made a habit of returning cash to shareholders. As CEO, he increased both the dividend payout and its frequency, from a penny a share bi-annually when he took the post to more than seven cents paid out monthly at the end of his tenure.

Current CEO Brad Shaw said that he not only lost a brother, but a great friend and mentor.

"As a family, our hearts are heavy with sadness," he said.

"Our lives will not be as complete without hearing Jim's laughter or getting the benefit of his counsel or his insight."

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Edward Rogers, chairman of Rogers Communications Inc., said he was saddened to hear about Shaw's death and extended his condolences.

"Jim was a brilliant man and a fierce competitor," Rogers said in a statement.

"He was a confident entrepreneur who had a transformative and lasting impact on the Canadian cable landscape. He will surely be missed." 

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- with files from BNN