AimiaвЂ™s appoints Jeremy Rabe as CEO, next step in a recent shareholder shakeup
MONTREAL вЂ” Loyalty rewards company Aimia Inc. announced Jeremy Rabe as its new president and chief executive.
Rabe is one of two directors who joined the companyвЂ™s board last month as part of an agreement with investment firm Mittleman Brothers LLC, which has sought changes at Aimia.
He will lead the Montreal-based company as it prepares for a split with Air Canada, which has decided to quit AimiaвЂ™s Aeroplan program and start its own loyalty plan in mid-2020.
Rabe was elected to AimiaвЂ™s board in April, following shareholder criticism of the companyвЂ™s performance.
He was founder and a managing partner of On Point Loyalty, a boutique investment and advisory firm focused on the airline loyalty industry.
Rabe replaces David Johnston who agreed to step down as CEO shortly before Rabe and Phillip Mittleman were elected to the Aimia board last month at the companyвЂ™s annual meeting.
Brian Edwards, the founder and former chief executive of BCE Emergis Inc., was also elected as a new independent director at the shareholder meeting.
Mittleman has agreed that until July 1, 2019, that it wonвЂ™t take any actions against Aimia, such as proposing the removal of board members, engaging in short selling or making disparaging comments about the company.
Companies in this story: (TSX:AIM TSX:AC)