Peter Lee, co-founder and partner at Los Angeles-based investment firm Browning West, will join the board, along with three other new directors including a new chair, former Air Canada CEO Calin Rovinescu. (The Logic)

Talking point: Browning West revealed it had taken a 4.3 per cent stake in CAE in December, arguing CAE had underperformed over the past five years and pushing for it to replace its CEO. The company, which was also a driving force in the shareholder battle at Canadian activewear company Gildan, entered a co-operation and standstill agreement with CAE as part of the board shuffle. Lee will co-chair a search committee for a new CEO. CAE CEO Marc Parent announced plans to step down in November, but the company’s future prospects are uncertain under U.S. President Donald Trump. Trump’s push for more defence spending by NATO countries could boost CAE’s pilot training centres, but tariffs could hurt its civil simulator manufacturing business.