- Air Canada (TSX:AC) announced the retirement of president and chief executive officer Michael Rousseau, which will come into effect by the end of Q3 2026, following nearly two decades with the company
- Air Canada is Canada’s largest airline, providing scheduled service directly to more than 180 airports in Canada, the United States and internationally on six continents
- Air Canada stock last traded at C$17.91 and has added 26.39 per cent year-over-year
Air Canada (TSX:AC) announced the retirement of president and chief executive officer (CEO) Michael Rousseau, which will come into effect by the end of Q3 2026, following nearly two decades with the company.
Air Canada’s board of directors has been quietly working on a CEO succession plan for more than two years, putting together an internal development program, with an external candidate search initiated in January 2026. Key candidate assessment criteria includes a facility with the French language. Global consulting firms Egon Zehnder and Korn Ferry are assisting the company with its search process.
The airline has been net income profitable since 2022, growing revenue every year, though earnings per share have declined from C$6.35 in 2023 to C$2.07 in 2025, setting the stage for the new CEO to turn this trend around.
Management commentary
“On behalf of the entire board, I want to thank Mike for his many contributions to Air Canada as he progressed from chief financial officer to deputy CEO and then to CEO and board member. We are grateful for the determined leadership he has provided not only in steering our company through the 2007-2008 financial crisis, COVID and other challenges, but also in capturing opportunities such as the acquisition of Aeroplan, in restoring the solvency of our pension plans and in advancing customer centricity and employee well-being priorities,” Vagn Sørensen, chair of Air Canada, said in Monday’s news release. “Our upcoming AGM will allow us to further recognize his achievements which include a legacy of financial strength.”
“It has been my great honour to work with the dedicated and talented people of Air Canada and to represent our outstanding organization, including as chair of the Star Alliance chief executive board and on the board of directors of the International Air Transport Association,” Rousseau added. “I look forward to supporting our company during this important transition period.”
About Air Canada
Air Canada is Canada’s largest airline, providing scheduled service directly to more than 180 airports in Canada, the United States and internationally on six continents.
Air Canada stock (TSX:AC) last traded at C$17.91 and has added 26.39 per cent year-over-year.
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