Air Canada CEO Who Averted Bankruptcy Retires, Hands Off to CFO

Calin Rovinescu will retire as Air Canada’s top executive in February and hand the reins to Chief Financial Officer Michael Rousseau, who takes over an airline with a strong balance sheet but a huge rebuilding task ahead of it.

Rovinescu rejoined the Montreal-based airline in 2009 and has been credited with saving it from a second brush with bankruptcy. Its 3,575% gain made it the top-performing stock in the S&P/TSX Composite Index for the 10-year period that ended Dec. 31, 2019. Like other major airlines, it lost much of its value since Covid-19 hit, with the stock dropping ...