World News – CA – Air Canada President and CEO Calin Rovinescu to retire in February 2021 – Travelweek

0

MONTREAL – Air Canada has announced that its President and CEO, Calin Rovinescu, will retire on February 15, 2021

Assistant General Manager and Chief Financial Officer of Air Canada, Michael Rousseau will succeed Rovinescu on his retirement

Although the news comes amid the turmoil of the COVID-19 pandemic, Rovinescu’s leadership has brought the company nearly 12 strong and successful years

“I have had a unique and very special relationship with Air Canada and our exceptional employees for over three decades, at the forefront of many defining moments of the company – the privatization of 1988-1989, the defense against a hostile offer for Air Canada in 1999, our merger with Canadian Airlines in 2000, after September 11, leading the restructuring of 2003-2004 and many others, « says Rovinescu

“But, more than anything else in my career, I am particularly proud of the transformation of the company over the past twelve years in which we have made Air Canada one of the world’s leading carriers and a global champion for Canada, winning international clients and employee rewards, expanding our global network to serve six inhabited continents, creating thousands of jobs and protecting pensions, producing record financial results, significantly strengthening our balance sheet, delivering significant shareholder value, and most importantly, developing a culture for our airline This is directly attributable to the efforts of the great women and men at Air Canada who have supported this multi-year transformation with innovation, hard work and great dedication ”, he declared

“Although Covid-19 has decimated the global airline industry, we have fortunately entered the pandemic in much better health than almost any other airline in the world thanks to our strong track record, track record and hand -of work committed Our Covid-19 mitigation and recovery plan is now almost complete and the remaining steps will be put in place before the end of the year We have raised approximately $ 6 billion in additional cash We continue to implement a series of significant fleet, capacity, network and manpower reductions that are needed over the next few years before rebuilding from this smaller footprint We have reduced our cost structure, our capital expenditures and our supplier agreements for the years to come, ”he added.

“At the same time, we have completed the implementation of our new reservation system and our acquisition of Aeroplan and we will launch our new state-of-the-art loyalty program We have entered into a revised acquisition agreement for Transat AT , a leader in leisure travel, subject to regulatory approval Air Canada will be extremely well positioned for the recovery when borders reopen, travel restrictions are lifted and the economy as a whole starts working again « , he added

Earlier this week, Air Canada and Transat announced new terms for the proposed acquisition of Transat, with a new price of $ 190 million, down from Rovinescu’s initial $ 720 million Feb. 15 January 2021, the retirement date coincides with the deadline for regulatory approvals for the Air Canada – Transat agreement

Assistant General Manager and Chief Financial Officer of Air Canada, Michael Rousseau will succeed President and Chief Executive Officer Calin Rovinescu on his retirement on February 15, 2021

Rovinescu says Deputy Managing Director and Chief Financial Officer Rousseau has been a key member of Air Canada’s management team since the start of the company’s transformation, “as well as a partner and fund of invaluable resonance to me in virtually every aspect of our journey over the last 12 years – and in particular the last two as Deputy CEO, ”said Rovinescu

Rovinescu added: « He knows all of our strengths and opportunities and how we can build on them. I am really delighted that the board has approved Mike as my successor for this next step and I look forward to working working closely with Mike and the rest of our strong management team during the transition next February »

Vagn Sorensen, Chairman of the Board of Directors of Air Canada, said: “Calin’s track record in transforming Air Canada into a sustainable global leader in the aviation industry is directly attributable to his strategic leadership and his unwavering courage to make difficult and innovative decisions, always keeping the best interests of all stakeholders, including shareholders, employees, customers and partners, at the forefront Under his leadership, Skytrax appointed Air Canada best airline in North America eight times over the past 10 years, while the Globe and Mail reported Air Canada to be the top performing stock on the TSX, in all industry categories, over the decade ending in december 31, 2019, with a total shareholder return exceeding 3600% His leadership also resulted in the creation of the Air Canada Foundation, whose mission is centered on children and youth in Canada and abroad and which supports some 300 charities, in addition to providing humanitarian aid for natural disasters around the world On behalf of Air Canada’s Board of Directors, I sincerely thank Calin for his incredible contribution to Air Canada, a contribution that will bear fruit for the coming years »

In addition to numerous awards, Rovinescu was named in 2018 Member of the Order of Canada for the promotion of the causes and associated charities of Canada’s largest airline, and for his leadership in the direction of the humanitarian aid following several natural disasters In 2019, it was announced that he would be inducted into the Canadian Business Hall of Fame

Meanwhile, Rousseau has been Deputy CEO and CFO of Air Canada since December 2018, after having been Executive Vice President and CFO since 2007

Sorensen added, “The Board looks forward to working with Mike Rousseau, whose leadership role has evolved well beyond that of a traditional CFO during his tenure at Air Canada His sense of financial and commercial affairs, as well as his team spirit will serve the company well in the years to come. »

TORONTO – Although Sandals Resorts International didn’t invent the all-inclusive concept with its first resort in Jamaica in 1981, it is widely credited with perfecting it since the inception of

Air Canada, Calin Rovinescu, CEO

News from the world – CA – Air Canada President and CEO Calin Rovinescu retires in February 2021 – Travelweek


SOURCE: https://www.w24news.com/news/world-news-ca-air-canada-president-and-ceo-calin-rovinescu-to-retire-in-february-2021-travelweek/?remotepost=424324

Donnez votre avis et abonnez-vous pour plus d’infos

Vidéo du jour: