Air Canada (TSX:AC) Chief Executive Officer (CEO) Calin Rovinescu is retiring in February and will be succeeded by Chief Financial Officer Michael Rousseau, the company announced.
Rovinescu said the airline continues to implement significant reductions in its fleet, capacity, network and workforce which "are required for the next several years before we rebuild from that smaller footprint." Rovinescu has also been pushing the federal government to ease Covid-19 travel restrictions, which have dealt a huge blow to the airline sector.
Rovinescu has been at the helm of the country’s largest air carrier since 2009. Prior to his role as CEO, he served as executive vice-president of corporate development and strategy from 2000-04. He also held the position of Chief Restructuring Officer during the airline’s restructuring in 2003-04.
Rovinescu previously served as chair of the Star Alliance Chief Executive Board and as Chair of the International Air Transport Association’s Board of Governors. Prior to joining Air Canada, Rousseau was President of Hudson’s Bay Company. He graduated from York University's Schulich School of Business.
