Air Canada Board of Directors announces the retirement of President and Chief Executive Officer

Article content

Article content

MONTRÉAL, March 30, 2026 (GLOBE NEWSWIRE) — The Board of Directors of Air Canada today announced that Michael Rousseau has informed the Board that he will retire by the end of the third quarter of 2026, after nearly two decades of strong and dedicated leadership that has reinforced Air Canada’s place as a leader in the airline industry domestically and globally. Mr. Rousseau will continue to lead the company and to serve on its Board until that time.

Article content

Article content

Article content

The Board has had a longstanding focus on CEO succession planning. Consistent with this priority, work has been underway for more than two years on a comprehensive internal development program for high potential executives. An external global search was also commenced in January 2026 to identify potential additional candidates with the skills, and experience to lead Canada’s national airline, proudly headquartered in Montréal, Québec. The Board will consider a number of performance criteria in assessing candidates including the ability to communicate in French. Mr. Rousseau has agreed to remain available as needed to ensure a seamless and smooth transition.

Article content

Article content

“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,” said Vagn Sørensen, Chair of the Board of Directors. “Our upcoming AGM will allow us to further recognize his achievements which include a legacy of financial strength,” he added.

Article content

Article content

“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,” said Mr. Rousseau. “I look forward to supporting our company during this important transition period.”

Article content

The Board is assisted in these initiatives by leading global organizational consulting firms Egon Zehnder and Korn Ferry.

Article content

2026 annual meeting of shareholders

Article content

Air Canada has today separately also confirmed the details of its 2026 annual meeting of shareholders, which can be found here.

Article content

About Air Canada

Article content

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of 45 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers more travel choices than any other Canadian tour operator to hundreds of destinations worldwide, with a wide selection of hotels, flights, cruises, day tours, and car rentals. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC) in Canada and the OTCQX (ACDVF) in the US.

Article content

Article content

Article content

Read our annual report Here

Article content

Article content

Article content

Article content

Article content

Article content

Article content

Article content