Briefing

Air Canada CEO Calin Rovinescu to step down

article-aa

The company announced Rovinescu, who has led the airline for nearly a dozen years, will retire Feb. 15, 2021; CFO Michael Rousseau will take over the position. (The Logic)

Read this article for free

By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.

Already a subscriber?

Talking point: Rovinescu started as CEO on April Fool’s in 2009 and has helmed the company throughout the pandemic, which he acknowledged in a release “has decimated the travel industry.” Air Canada continues “to implement a series of significant fleet, capacity, network and workforce reductions that are required for the next several years before we rebuild from that smaller footprint,” he said, noting it has raised about $6 billion of incremental liquidity; it revised its Air Transat takeover offer this week and has taken other measures to mitigate the pandemic’s impacts. He has been vocal about the need for the government to loosen restrictions on visitors to help the industry.