MONTREAL – Calin Rovinescu, Air Canada’s president and CEO, will retire on February 15, 2021. The deputy CEO and CFO, Michael Rousseau, will succeed him upon his retirement.
“I have enjoyed a unique and very special relationship with Air Canada and our outstanding people for over three decades, on the front lines of many of the company’s defining moments – the 1988-1989 privatization, the defence against a hostile bid for Air Canada in 1999, our merger with Canadian Airlines in 2000, the aftermath of 9/11, leading the 2003-2004 restructuring and many others,” Rovinescu said.
Rovinescu has served as president and CEO of Air Canada since April 1, 2009, having previously served as its executive vice-president, corporate development and strategy and as its chief restructuring officer. He was chair of the Star Alliance chief executive board from 2012 to 2016 and served as chair of the board of governors of the International Air Transport Association from 2014 to 2015.
In 2019, Rovinescu was recognized as Strategist of the Year and as Canada’s Outstanding CEO of the Year for the second time by The Globe and Mail’s Report on Business magazine. In 2016, he was recognized as Canada’s Outstanding CEO of the Year by the Financial Post Magazine. Among several airline industry recognitions, he was awarded the Executive Leadership Award at the 2018 Airline Strategy Awards in London, England.
In 2018, Rovinescu was appointed a member of the Order of Canada for promoting the associated charitable causes and organizations of Canada’s largest airline, and for his leadership in spearheading humanitarian relief following several natural disasters. In 2019 it was announced that he would be inducted into the Canadian Business Hall of Fame.
Rousseau previously at HBC
Rousseau has served as deputy CEO and CFO of Air Canada since December 2018, having previously been executive vice-president and CFO since 2007.
Before joining Air Canada, Rousseau was president of Hudson’s Bay Company (HBC) and before that, executive vice-president and CFO of HBC. He is a Fellow Chartered Accountant and graduated from York University’s Schulich School of Business with a Business Administration degree. He was named Canada’s CFO of the year in 2017 and holds the FCA and FCPA designations conferred by CPA Ontario in recognition of his professional achievements.
“Mike Rousseau has been a key member of our leadership team since the beginning of our transformation, as well as an invaluable partner and sounding board for me on virtually all aspects of our journey over the last 12 years – and especially the last two as our deputy CEO,” said Rovinescu.
“He knows all of our strengths and opportunities and how we can lean into them. I am truly delighted that the Board of Directors has endorsed Mike as my successor for this next stage and I look forward to working closely with Mike and the rest of our strong executive team through the transition next February.”